Smartwatch prices drop as war for market rages

Posted By: Pawan George Posted On: Aug 18, 2023
IDC India said smartwatch shipments doubled to 12.8 million units in the June quarter from 6.4 million units a year ago. (istock)

Prices of smartwatches have nearly halved from a year earlier amid a price war between brands trying to secure a higher market share in India, industry watchers said.

The competitive landscape within the smartwatch sector mirrors the dynamics of the smartphone market following the entry of Chinese brands into the Indian market in 2014.

According to industry insiders, the razor-thin profit margin on smartwatches raises concerns over the long-term viability of many brands. Even those that manage to survive this might struggle to woo budget-conscious customers into transitioning to more lucrative premium products, they said.

Three industry executives said the lowest-priced smartwatches in the market yield minimal margins, ranging from just Rs100-200. While the margins are higher on more expensive products, the average selling price of smartwatches was at an all-time low in the June quarter. According to an International Data Corp. (IDC) report on 10 August, smartwatches are priced at an average of $25.6 or a shade over ₹2,100. This suggests that most smartwatch sales driving sector growth are at the lowest price bracket.

Boat co-founder and chief marketing officer Aman Gupta said there “is a price war now". “Brands are aggressively vying for a bigger stake in the market, with some making unwanted noise and also striving to attract funding by showcasing their market share. This approach seems unsustainable, pointing towards an inevitable need for consolidation. Well-funded players from Peak XV's portfolio and even Titan (from the Tata Group) have entered. The upcoming period will be very interesting to watch out for," he said.

A senior executive of another smartwatch brand, requesting anonymity, said with two top smartwatch brands consistently slashing prices, it has become “difficult for competitors to sustain higher prices, which has made the market difficult ."

However, the drop in prices has helped the market surge ahead. IDC India said smartwatch shipments doubled to 12.8 million units in the June quarter from 6.4 million units a year ago. While this indicates significant growth, there are challenges ahead. IDC data for the corresponding periods showed shipments rose fourfold to 6.4 million in the June quarter of 2022 from 1.6 million in the year earlier. However, this growth came on a much smaller base.

However, industry insiders said a slowing growth rate is not the real challenge. “The bigger threat comes from the operating margins for most brands in this category," a senior consultant said, requesting anonymity since he works with multiple smartwatch brands.

Navkendar Singh, associate vice-president at IDC India, said: “Smartwatch prices in India have dipped to a very low base, as companies look to gather market share by driving volumes. It could pose a critical challenge in the long run once the number of new users these brands can acquire falls. A slim margin business also means that brands may eventually struggle to sell high-priced devices, but now they are operating on the hope that the buyers will eventually upgrade to high-end devices in the long run, and that would yield better margins, thus, profitability."

Boat, India's third-largest smartwatch brand with 19.7% market share, as per IDC data, sells its base model for Rs1,299. The base models of Noise and Fire-Boltt, which are category leaders with 24.8% and 28.5% market share, respectively, are priced at Rs1,099 and Rs1,349, respectively, according to product listings on their websites.

Some brands, however, remain upbeat. Gaurav Khatri, chief executive of smartwatch brand Noise, said that the company continues to expect steady growth. “We are already seeing growth in high-priced smartwatches as well, even as first-time buyers continue to enter with the budget models. Overall, there is plenty of growth potential, and we have also started focusing on offline sales. While this contributed around 6% to our overall smartwatch sales last year, we're already touching 15% this year," Khatri said.

Bloomberg reported on 28 May that Noise is in talks with investors to raise up to $50 million in its maiden funding round. Noise declined to comment.

Boat's Gupta said a part of the industry's growth strategy is to expand offline stores.

IDC's Singh said brands are looking at more physical outlets to attract first-time buyers and ramp up shipments. “There will, however, be challenges—the growth potential beyond the next two years will be limited. Whether upstart brands manage to survive beyond this remains to be seen," Singh added.

Source: Live Mint
Related Posts: SMARTWATCHES,IDC,AMAN GUPTA,BOAT,PEAK XV,TITAN,TATA GROUP,NAVKENDAR SINGH,FIRE-BOLTT,GAURAV KHATRI,PRICES

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Why is Akasa Air taking 43 pilots to court

Posted By: Aditya Gogoi Posted On: Sep 17, 2023
The airline's flight cancellation rate last month was 1.17%, the second-highest since its launch in August 2022 (Photo: Akasa Air)

With the aggressive expansion of IndiGo and airlines under the Air India umbrella, industry experts have pointed out that India’s aviation industry faces a scarcity of senior pilots.

According to reports, more than 40 pilots left Akasa Air without serving the mandatory six-month notice period, causing the fledgling airline to cancel a large number of flights. Its flight cancellation rate last month was 1.17%, the second-highest since its launch in August 2022. This number was 0.45% in July and 0% in March. Akasa's share of the domestic market fell to 4.2% in August from 5.2% in July.

Such situations are not unusual in an emerging aviation market like India's. Currently, there are seven major carriers in India, of which Go First has been inactive since May. Industry experts say the Tata-backed Air India and India's largest airline IndiGo have the strongest promoter support of the lot.

This is evident in the order book of the two airline groups, with over 1,300 aircraft on order for IndiGo and 470 aircraft in the pipeline for the Air India group. In addition, the two entities are constantly eyeing opportunities to add capacity by wet-leasing or dry-leasing older aircraft as the supply of new planes has been constrained by global supply-chain issues since the pandemic.

Low-cost carrier SpiceJet, among others, has been under financial stress thanks to multiple legal cases with lessors, its former promoter group, and Credit Suisse over the payment of dues.

An industry executive said, “Akasa is a strong player and has been able to steadily increase its market share in domestic aviation. It will be important for the airline to either expand slowly or ensure a competitive offer to retain pilot talent. Flight cancellations are the biggest dampeners for customer sentiment. They need to be avoided at any cost."

In a claim filed in the Bombay High Court against the 43 pilots, Akasa Air has sought ₹21.6 crore in compensation. This includes ₹14.28 crore for reputational loss caused by the cancellation, re-scheduling and grounding of flights, ₹6.96 crore for loss of operational profits, and ₹36 lakh on account of the pilots' training agreement.

“We have sought legal remedy only against a small set of pilots who abandoned their duties and left without serving their mandatory contractual notice period. This was not only in violation of their contract but also the country's civil aviation regulation. Not only is this illegal in law but also an unethical and selfish act that disrupted flights in August, forcing last-minute cancellations that stranded thousands of customers and caused significant inconvenience to the traveling public," the airline said.

Source: Live Mint
Related Posts: AKASA AIR,AKASA AIR SUES PILOTS,INDIAN AVIATION SECTOR,FLIGHT CANCELLATIONS,GO FIRST,INDIGO,AIR INDIA,SPICEJET,TATA GROUP,CREDIT SUISSE,BOMBAY HIGH COURT,PILOTS,AKASA AIR PILOTS

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Best Bluetooth calling smartwatches with AMOLED display under ₹5

Posted By: Ramesh Sharma Posted On: Sep 16, 2023
For representation purposes (Amazon)

In today's tech-savvy world, we are presented with a plethora of remarkable gadgets, and among them, Bluetooth calling smartwatches stand out. These cutting-edge devices now come equipped with long lasting batteries, more than 100 watch faces, health monitoring features and stylish designs.

In this article, we have compiled a selection of the top rated Bluetooth calling smartwatches on Amazon that deliver exceptional performance and value for your money, all priced under ₹5,000. If you are on the hunt for a new BT Calling smartwatch, look no further than our list.

It is crucial to note that these prices are as per the e-commerce platform which can be changed while placing the order.

CrossBeats Ignite Spectra Plus Large

The CrossBeats Ignite Spectra Plus Large is priced at ₹3,999. It features a 1.83-inch Super AMOLED always on display, storage for music up to 150 songs, AI voice assistant, heart rate monitoring, BP and sleep tracking along with more than 200 watch faces. The device offers up to 15 days battery life on a single charge.

Fire-Boltt Invincible Plus

The Fire-Boltt Invincible Plus is up for grabs at ₹4,999. It features a 1.43-inch AMOLED display, 700 nits of peak brightness, AI voice assistant, heart rate monitoring, and sleep tracking, 300 sports modes along with more than 100 watch faces.

Pebble Cosmos Endure

This smartwatch from Pebble is priced at ₹4,699. It features a 1.46-inch AMOLED display, 600 nits of peak brightness, AI voice assistant, heart rate monitoring, and sleep tracking, 100 sports modes along with more than 100 watch faces. The smartwatch offers battery life up to eight days on a single charge and boasts a 400mAh battery.

Noise Halo Plus

The smartwatch is priced at ₹4,999 on Amazon. It features a 1.46-inch AMOLED display, AI voice assistant, heart rate monitoring, and sleep tracking, 100 sports modes along with more than 100 watch faces. The smartwatch offers battery life up to seven days on a single charge and boasts a 300mAh battery.

boAt Primia Smart Watch

The smartwatch from boAt is currently available at ₹5,000. It features a 1.39-inch AMOLED display, AI voice assistant, heart rate monitoring, and sleep tracking, multiple sports modes along with several watch faces. The smartwatch offers battery life up to seven days on a single charge and is IP67 dust and splash proof.

Source: Live Mint
Related Posts: AMAZON,AMAZON INDIA,AMAZON INDIA SALE,CROSSBEATS IGNITE SPECTRA PLUS LARGE,FIRE-BOLTT INVINCIBLE PLUS,PEBBLE COSMOS ENDURE,NOISE HALO PLUS,BOAT PRIMIA SMART WATCH

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Petrol, Diesel Prices Today, September 16

Posted By: Vishal Maurya Posted On: Sep 16, 2023

How to Check Petrol, and Diesel Prices City-Wise?

You can also know the daily rate of petrol and diesel through SMS. Indian Oil customers can get information by sending RSP and their city code to 9224992249 and BPCL customers can get information by sending an SMS to 9223112222 by typing RSP and their city code. Whereas, HPCL consumers can know the price by sending HPPrice and their city code to 9222201122.

Source: News18
Related Posts: PETROL AND DIESEL PRICES

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Petrol, Diesel Prices Announced For Today, September 9

Posted By: Vanshika Pathak Posted On: Sep 09, 2023

How to Check Petrol, and Diesel Prices City-Wise?

You can also know the daily rate of petrol and diesel through SMS. Indian Oil customers can get information by sending RSP and their city code to 9224992249 and BPCL customers can get information by sending an SMS to 9223112222 by typing RSP and their city code. Whereas, HPCL consumers can know the price by sending HPPrice and their city code to 9222201122.

Source: News18
Related Posts: PETROL AND DIESEL PRICES

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Alligator Scales Boat In This Unbelievable Footage Published 9 minutes ago

Posted By: Vanshika Pathak Posted On: Sep 06, 2023

Boat rides are usually fun and quite enjoyable. It usually makes you feel peaceful and content. But one such boat ride turned tumultuous when an alligator emerged from the waters and decided to attack the passengers inside. In what could easily turn out to be a pretty dangerous situation, a man managed to maintain his cool and was able to make the alligator retreat into the waters. The menacing yet equally hilarious video is currently doing the rounds on the internet.

The now-viral video was dropped on Instagram on Sunday, September 3. In the video, an unexpected encounter unfolded when an alligator attempted to climb a boat, frightening the passengers. This sudden attack by the reptile gripped the boat riders with panic, as they were heard shrieking in terror. However, one man among the passengers displayed remarkable bravery in the tense situation. Without showing any signs of fear or anxiety, he patted the alligator on its snout, gently coaxing the reptile back into the waters.

This unusual gesture by the courageous man left the other passengers impressed. The person recording the video was seen sharing a laugh with the others present on the boat. Although they seemed nervous at the sudden attack, they were unable to control their laughs at the unexpected and hilarious turn of events. Accompanying the video, the sarcastic caption read, “Dude was just trying to say hello (with an alligator emoticon)."

As soon as the video surfaced on the internet, social media users found the incident to be both frightening and amusing. Reacting to the post, a user wrote, “Those who don't understand. Always close an alligator's mouth if possible. They are actually very weak at opening their jaw, so they won't be able to get you if their mouths are closed." Another commented, “They were armed, hence the ear protection, good that no one got hurt or had to protect themselves beyond the gentle push. Great reactions y'all."

“That happens because the crocodiles have pretty weak jaw muscles under compression. It's just the snapping force that makes them deadly. A normal person could shut their mouth with bare hands easily," stated a third Instagram user.

So far, the video has already garnered 12 million views with more than four lakh likes on Instagram and the numbers are still on the rise.

Source: News18
Related Posts: NEWS18-DISCOVER,VIRAL VIDEO,BOAT RIDE

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