Flood of $12 Smartwatch Clones Disrupts India's Market, Slowing Growth for Established Brands
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India's smartwatch market has been flooded by unknown brands selling $12 copies of Apple/Samsung watches, gaining 15-20% market share and pushing prices down by 90%.
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Domestic brands like Fire-Boltt, Noise and boAt still dominate with 60%+ share but growth is slowing due to price erosion.
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Unknown brands likely use white label Chinese products, have inaccurate sensors, no warranties, but low prices and Apple aesthetics gain attention.
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Experts expect consolidation as unknown brands fade, ASP drops 39% in 2022, market sees single digit growth versus 150% previously.
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Established brands aim to add product categories, target multi-time buyers versus first-timers, but pricing may rise. Market saturation expected.