India beats China, takes second spot in smartwatch market in Q2: Report

According to Counterpoint Research, India overtook China to become the world's second-largest market for smartwatches in the second quarter of FY22, despite challenges like inflation and a lack of semiconductor chips. On a YoY basis, the shipping of smartwatches increased 13% globally in the second quarter of FY22.

With a 10% YoY reduction in its shipment, China, which held the second position in the previous quarter, dropped to third place. Due to decreased consumer demand brought on by slow economic growth and Covid-19 lockdowns, the fall was observed.

The report also found that, due to a 13% YoY decline and the ongoing Russia-Ukraine conflict, Europe has fallen to fourth place. According to the report, North America remained at the top spot.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.