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According to the latest report by IDC, global wearable shipments grew 2.6 percent year over year, and also reached an all-time high of 148.4 million units in Q3, 2023. Apple takes the top spot with 29.9 million shipments, while grabbing 20.2 percent of the overall market share. boAt sits just below Apple with 14.3 million shipments and 9.6 percent market share. It also saw a 19.4 percent year over year growth.
Taking the third spot is Xiaomi with 11.6 million units shipped, and a total of 7.8 percent market share. Xiaomi witnessed the highest year over year growth with 36.0 percent. Samsung and Huawei follow with 10.7 million and 8.5 million units shipped, respectively.
"Smart rings from newer brands such as Oura, Noise, BoAT, Circular and others are expected to jumpstart the new form factor in the coming quarters while also putting pressure on the incumbent brands to innovate on health tracking," said Jitesh Ubrani, research manager, Mobility and Consumer Device Trackers at IDC.
boAt launched the 'Smart Ring' in India earlier this year in August. It's priced at Rs 8,999, and it comes with essential health and fitness features. You can also control music playback, click pictures, and navigate apps using the boAt Smart Ring. It otherwise has a vast portfolio of products ranging from wired earphones and headphones, TWS, wireless headphones, smartwatches, neckbands and more.
boAt products are also aggressively priced in the pocket-friendly segment thereby targeting a much wider consumer market. It's also known to rope in popular Indian celebrities such as Jacqueline Fernandez, Kartik Aaryan, and Kiara Advani, and Indian cricketers including Hardik Pandya, KL Rahul, and Shikhar Dhawan.