From January through June 2023, Russia’s market for smartwatches and fitness trackers saw robust activity, totaling 3.3 million units sold and generating about 20.2 billion rubles in revenue. Compared with the same period a year earlier, volumes rose by half while cash earnings edged up by 2 percent, according to information relayed to socialbites.ca via MTS’s press service.
Smart watches continued to hold the top spot in the wearable electronics category. Over the past year their share of unit sales climbed from 51% to 68%. In the first half of the year, 2.2 million units were dispatched in Russia, with a value near 17.9 billion rubles. This represented a 50% increase in quantity and a 1% rise in monetary terms year over year. The average selling price declined sharply, dropping by 49% to around 8 thousand rubles per device.
The surge in this segment was driven primarily by previously lesser-known brands, many of them originating in China, which entered the market over the last year and the current year. These newcomers captured about 43% of total sales. Apple held the second-largest share with about 10%, followed by Xiaomi at roughly 8%.
Fitness trackers ranked second in popularity, accounting for about 25% of unit sales. Between January and June, 821 thousand units were sold for roughly 1.8 billion rubles. This marked a 4% decline in unit sales compared with the prior year and a dramatic 254% decrease in revenue. The average price fell by 23% to approximately 2.2 thousand rubles. Xiaomi remained a dominant player, with around half of the market share (52%).
Children’s smart watches accounted for about 7% of sales, with demand remaining steady in the market. In the first half of the year, around 241 thousand children’s watches were sold, totaling roughly 560 million rubles. This represented a 10% rise in quantity but a 10% drop in monetary terms. The average price decreased by 18% to about 2.3 thousand rubles.
The market landscape continued to evolve as brands from various regions compete for price, features, and reliability in Russia’s wearable device sector. This dynamic includes shifts in consumer preferences toward more affordable, feature-rich devices, as well as strategic price adjustments by both established brands and newer entrants seeking to expand share in a competitive environment. Data for the period underscores the ongoing diversification of the product mix and the persistent appeal of budget-friendly options alongside premium devices. (attribution: socialbites.ca, MTS press service)
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