Samsung lost its top spot in the wearables market in India in 2Q21

Recently, the industry analyst International Data Corp (IDC) released a report for India’s wearables market grew by 118.2% year-on-year (YoY) at 2Q21 (April-June), exporting 11.2 million units. Strong exports from home products to earphones and watches have encouraged this growth.

Talking about Samsung, the company lost its top spot in the wearables market in India in the second quarter of the year, as its competitors expanded their presence.

The South Korean technology giant registered a 7.9 percent market share for the period April-June, down sharply from its 30.4 percent share last year, ranking third in the Indian ear market.

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Samsung’s exports of smart ear products, including wireless earrings, headbands, and headphones, dropped by 44.6 percent year on year, as Indian consumers apparently preferred to buy devices from domestic companies.

BoAT, an electronic brand from Imagine Marketing Private Ltd. based in India, became a leading player after its market share more than doubled to 45.5 percent in the second quarter, with its exports of ear-wearing devices sending 424 percent a year increase.

OnePlus, an electronic product from BBK Electronics of China, took second place with an 8.5 percent market share, up from 5 percent last year, after its exports grew by 264.2 percent a year.

Its compatriot Realme slipped to the fourth spot with a market share of 5.5 percent, down from 14.3 percent a year earlier. India’s wearables market increased by 113.1 percent per year to 9.2 million units in the second quarter and remained the largest category in wearable products.