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Tuesday,13-April-2021

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India wearables market grows 144.3% in 2020: IDC

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Driven by record shipments of hearables and watches, the India wearables market posted 144.3 per cent year-over-year (YoY) growth in 2020, exiting the year with 36.4 million unit shipments, industry tracker International Data Corporation (IDC) said on Thursday.

India was the only country in the top 20 to see triple-digit growth in wearables in 2020 and continues to be the third-largest wearables market globally, showed IDC Worldwide Quarterly Wearable Device Tracker.

“2020 was a year of transition in the audio segment from wired to wireless devices,” said Jaipal Singh, Associate Research Manager, Client Devices, IDC India.

“In 2021, this category will further migrate to more sophisticated devices with enhanced audio experience being the central theme for all vendors,” he added.

Earwear device shipments grew more than threefold in 2020 compared to the previous year, mainly driven by the affordable launches, and expanding use cases beyond entertainment like virtual meetings and e-learning requirements.

Truly Wireless Stereo (TWS) devices were the top gainer seeing a tenfold increase with shipments totaling 11.3 million units in 2020.

“Hearables became one of the most sought-after electronic categories in 2020. The newer version of hearables are much better in managing the increased audio usages and improved aesthetic and design also made them the trendsetter,” Anisha Dumbre, Market Analyst, IDC India, said in a statement.

The October-December 2020 recorded the biggest quarter for wearables in India, maintaining triple-digit growth.

Overall, vendors shipped 15.2 million units in Q4 2020, growing 198.2 per cent YoY.

This was the first quarter when shipments of watches crossed the one million mark as vendors shipped 1.3 million units during the quarter.

Noise’s Colorfit pro-2, Realme watch, Apple’s watch series 6, and new launches from Amazfit provided this strong growth for watches in 4Q20.

Wristbands declined by 34.3 per cent YoY in 2020 since peaking in 2019 as the year ended with 3.3 million unit shipments.

After the introduction of wrist bands into the Indian market, 2020 has been the first year when the category reported a decline.

The increasing popularity of watches at similar price points to that of wristbands is the main factor of the decline of wristbands.

With 46.7 per cent of the share, Xiaomi continued to lead the category in 2020. realme, which entered the segment in 2020 finished second with a 12.3 per cent category share.

Watches grew significantly as demand for wrist bands declined during the year.

Watches saw a 139.3 per cent YoY growth with 2.6 million unit shipments in 2020.

Smartwatches, which can run third-party applications on the device itself, accounted for a 24.5per cent share in the watch category, and Apple continues to lead the smartwatch category with a 51.0% share in 2020.

Samsung with its portfolio including JBL, Harman Kardon, Infinity finished second with a 14.5 per cent share in 2020.

BoAt led the TWS segment with a 24.6 per cent share, followed by realme with a 13.5 per cent share in 2020.

Business

Intel-owned Mobileye, Udelv to build 35K autonomous vehicles

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Intel-owned Mobileye and Udelv, a Silicon Valley venture-backed company, have announced to produce more than 35,000 autonomous vehicles by 2028, with commercial operations beginning in 2023.

Mobileye’s self-driving system — Mobileye Drive — will “drive” the next-generation Udelv autonomous delivery vehicles (ADV), called “Transporters.”

“Our deal with Udelv is significant for its size, scope and rapid deployment timeline, demonstrating our ability to deliver Mobileye Drive for commercial use now and in volume,” said Professor Amnon Shashua, Mobileye president and CEO.

“COVID-19 has accelerated demand for autonomous goods delivery, and we are delighted to partner with Udelv to address this demand in the near term,” he said in statement on Monday.

Donlen, one of America’s largest commercial fleet management companies at the forefront of fleet management innovation and technology, has placed the first pre-order for 1,000 ‘Transporters’ — believed to be the largest to date for an autonomous delivery vehicle.

“The readiness of Mobileye Drive, along with its vast map coverage of North America, Europe and Asia, will allow us to ramp up the production and deployment of Udelv Transporters and rapidly offer the service at scale to our expanding list of customers,” said Daniel Laury, CEO and co-founder of Udelv.

Mobileye-driven Transporters will be capable of L4 self-driving, point-to-point operation.

Udelv’s proprietary tele-operations system will allow for the maneuvering of the vehicles at the edges of the mission, in parking lots, loading zones, apartment complexes and private roads.

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Business

Equity indices in green, auto, banking stocks rise

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Bombay-Stock-Exchange

A day after recording the biggest single-day fall of 2021, the key Indian equity indices traded in the green on Tuesday.

Healthy buying activity was witnessed in banking and auto stocks.

The indices have, however, declined from the intra-day highs.

At around 11.25 a.m, Sensex was trading at 48,030.96, higher by 147.58 points or 0.31 per cent from its previous close of 47,883.38.

It opened at 47,991.53 and has so far touched an intra-day high of 48,315.09 and a low of 47,775.32 points.

The Nifty50 on the National Stock Exchange was trading at 14,349.85, higher by 39.05 points or 0.27 per cent from its previous close.

The top gainers on the Sensex were Mahindra & Mahindra, Bajaj Finserv and ONGC, while the major losers were TCS, Tech Mahindra and Infosys.

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Business

OMCs to explore fuel price revision post elections

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Petrol

Fuel prices in the country remained unchanged on Tuesday with oil marketing companies continuing on the pause mode and keeping petrol and diesel prices static for a fortnight now.

Accordingly, pump prices of petrol and diesel remained at previous day’s level of Rs 90.56 and Rs 80.87 a litre respectively in the national capital.

However, the two petroleum products may see revision again post conclusion of ongoing state elections. With crude remaining below $65 a barrel, any softening on global oil in wake of fresh wave of the pandemic and rising oil stocks in US could actually mean lower petrol and diesel prices for consumers in India.

Before the long drawn pause, petrol and diesel fell by 22 paisa and 23 paisa per litre respectively on March 30. The OMCs have decided to pause price revision since then as they want to watch the crude price movement that has now fallen to around $63.5 a barrel.

Across the country as well the petrol and diesel prices remain static on Tuesday but its retail levels varied depending on the level of local levies on respective states.

In Mumbai, petrol continues to be priced at Rs 96.98 a litre and diesel at Rs 87.96 a litre. Premium petrol, however, continues to remain over Rs 100 a litre in the city as is the case with several cities across the country.

The OMCs went on price cut for the first time this year on two consecutive days – March 24 and 25 after keeping oil prices steady for past 24 days. It again reduced the price on March 30. Thereafter, fuel prices have remained unchanged.

Earlier, petrol and diesel prices increased 26 times in 2021 with the two auto fuels increasing by Rs 7.46 and Rs 7.60 per litre respectively so far this year.

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