India wearable market registers 47% growth in 2022
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Indian wearable market posts 47% growth in 2022
The wearable market in India ended 2022 with a 46.9% year-on-year (YoY) growth as shipments reached 100 million units, according to data from International Data Corporation’s (IDC) India monthly wearable device tracker.
The period between October and December of 2022 saw 25.2 million unit shipments, registering a 16.5% YoY growth. Earwear remained flat while smartwatches grew by 73.6% on YoY basis in the fourth quarter of 2022.
The second half of the year, July to December 2022—accounting for more than 60% of the annual shipments—saw several new product launches ahead of the festival season, combined with offers or discounts across channels. The share of smartwatches grew from 17.9% in 2021 to 30.7% in 2022.
The smartwatch (inclusive of basic and advanced) shipments were 30.7 million in 2022, a growth of 151.3% YoY. The average selling price of smartwatches continues to decline to $42.5 from $61.2 a year ago. Basic smartwatches continue to dominate, with a 95.5% share growing by 158% annually in 2022. Wristbands declined by 73.2% for another year with shipments dropping to half a million.
Dimexon Diamonds to migrate onto SAP’s cloud platform
Enterprise application software and cloud solutions company SAP has announced that Dimexon, a leading diamond manufacturer, will be using its technology platform to further its growth objectives like better business outcomes and customer experience.
The cloud solution of SAP will be implemented by PwC India and will enable Dimexon to migrate its digital landscape. This will assist the company in automating and streamlining operations, including understanding customer preferences, sourcing raw materials, tracking inventories, and delivering to stakeholder expectations.
“This aligns with our ambitious roadmap to make sustainable luxury accessible to our growing network of customers worldwide," said Dimexon Diamonds Director Rajiv Mehta.
Founded in 1966, Dimexon is focused on procuring rough diamonds directly from primary sources, consistently producing high-quality polished diamonds and distributing them to targeted jewellery and watch brands, retailers, and manufacturers globally.
Tech Mahindra opens tech centre in Saudi Arabia
Technology services company Tech Mahindra has signed a Memorandum of Understanding (MoU) with the Ministry of Communication and Information Technology (MCIT), Saudi Arabia to establish Center of Excellence (CoE) on data and AI as well as Cloud in Riyadh.
The CoE will combine academic and socio-economic goals to build national hi-tech talent capacity, create high-quality jobs, promote digital innovation and upscale small and medium enterprises.
Tech Mahindra will host design thinking workshops and hackathons around data and AI, and Cloud to nurture innovation and accelerate Saudi Arabia’s transformation to a digital economy. The partnership will provide training and development for 2,500 Saudi nationals by providing project deployment programmes that enhance skills and develop careers in data and AI, and Cloud.
L&T Technology Services unveils new Industry 4.0 technologies
L&T Technology Services, an engineering services company, has unveiled a new suite of offerings centred around Industry 4.0 technologies for key verticals like transportation, medical devices, and hi-tech by making use of the latest innovations in Artificial Intelligence (AI), robotics, 3D-vision systems, and connected machines.
LTTS’ team of engineers is developing implementable services and solutions on transformational technologies to usher in the new manufacturing age for customers in North America. To this end, the company recently launched a new centre of excellence in its Peoria, Illinois design centre to offer turnkey solutions that combine customer product concepts with LTTS' design, simulation, proof of concept, and prototyping capabilities.
Named as 1DigitalPlace Center of Excellence, the Peoria CoE will use next-generation manufacturing technologies and enable customers to redefine their product journeys. The areas of applications include Artifical intelligence (AI), robotics, 3D-vision systems, and connected machines.
Over the years, LTTS has undertaken significant investments across seven major design centres in the US, focusing on design, engineering, and manufacturing services for customers in multiple industries.
NetApp unveils new flash storage solutions
NetApp, the data-centric software company, has announced the upcoming availability of the NetApp AFF C-Series, a new family of capacity flash storage options including lower-cost all-flash storage, and NetApp AFF A150, a new entry-level storage system in the AFF A-Series family of all-flash systems.
According to the company, the new NetApp AFF C-Series delivers flash performance, while remaining cost-effective and efficient for a lower total cost of ownership (TCO) and a smaller storage footprint. This family of capacity flash arrays are also offered with ONTAP One, an all-in-one license that includes all available NetApp software.
Edited by Kanishk Singh