Battered by the onslaught of a sea of clones, knockoffs, and price warriors, homegrown wearable and audio biggie boAt finds itself in choppy waters. Can the leader arrest an alarming slide in its market share?
“Have you seen Pirates of the Caribbean,” the seasoned tech analyst posed an intriguing counter-question. “How do you explain the mayhem in the wearable and hearable market in India,” was the original query with which I started the conversation. Can Pirates of the Caribbean, I wondered, explain the dramatic crash—over 50 percent—in the prices of smartwatches, truly wireless stereo (TWS), and wearable segments over the last twelve months or so? The analyst, who has been closely tracking the Indian smartphone, smartwatches, and hearables and wearables markets for over a decade, takes us back to 2019.