According to data from market research firm IDC’s India Monthly Wearable Device Tracker, Ultrahuman currently holds the majority share in the smart ring market at 48.4%. AIR Ultrahuman Ringthe company’s only product in the category, retails at ₹28,499.
The other two major players in the market are Pi Ring with a 27.5% share and Aabo with 10.5%.
IDC also added in its report that the launch of more affordable smart rings by major wearable brands in the coming months should also boost the category. Of the current crop of Indian wearable giants, Noise and boAt offer smart rings. The Noise Luna Ring is priced at ₹19,999, while the boAt Active S11 Smart Ring is priced at ₹3,299 with different features.
Samsung has also entered the market by launching its galaxy ring at its Unpacked event in July alongside the Galaxy Z Fold6 and Galaxy Z Flip6. Priced at $399, it is not available in India at the moment.
Despite the growth of this new category, India recorded for the first time in the second quarter a decline in overall wearables shipments of 10.0% year-on-year to 29.5 million units. The first half also saw a decline of 4.7% to 55.1 million units.
According to IDC, the main reason behind the low sales is “cautious inventory replenishment by suppliers to clear out old stock before the holiday season begins and fewer new launches.”
Within the category, the smartwatch segment saw a 27.4% year-over-year decline to 9.3 million units, with channel inventory and innovation depletion listed as key reasons for the decline. However, the advanced smartwatch sector grew by 21.9%, with market share increasing from 1.5% to 2.5%. These include devices such as the Apple Watch, Samsung Galaxy WatchGarmin smartwatches, OnePlus Watch, etc. priced starting from ₹20,000.
The earphone category recorded a slight growth of 0.7% year-on-year, reaching 20.1 million units. Within this category, the True Wireless Stereo (TWS) segment grew significantly, accounting for 71.0% of the market, up from 65.5% last year, a year-on-year increase of 9.1%. Meanwhile, other types of earphones, such as in-ear and over-ear models, decreased by 16.1%, totaling 5.8 million units.
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