India’s smartwatch market fell 33% YoY in Q1 2025, marking the fifth consecutive quarterly decline. Budget segment share fell from 95% to 91%, while the ₹5,000–₹10,000 segment grew 17%.
Consumer fatigue, lack of innovation, and saturation are driving the slowdown. Brands now focus on premium features, lifestyle positioning, and reduced launch volumes.
Despite challenges, ASPs rose 28%, signaling a shift toward premiumization. Leading brands are now prioritizing brand trust, fitness integration, and fashion over pure health-tracking devices.