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Smartwatches, once among the fastest growing consumer electronics segments, are now finding fewer takers in India. Shipments fell for the fifth consecutive quarter by 33% on-year in the January-March period, amid a shift from volume-driven sales of budget devices to a focus on premium features.The quarter also saw a decline in the number of active brands in the segment and new models launched.Market trackers said 2025 will be a year of correction for the industry where brands will focus on higher-end price segments to fuel growth. Shipments are expected to grow 2% on-year by the end of the year, after declining 34.4% on-year in 2024.For top brands, launches have gone down from around five to six new models per quarter last year to an average of two to three models in Q1 2025, Counterpoint Research said.The research firm said the overall installed base relative to smartphone users, estimated to be around 15-20%, has not changed significantly since last year.The contribution of the sub-₹5,000 budget segment to overall shipments fell from 95% in Q1 2024 to 91% in Q1 2025, with the premium segment seeing sharper growth. The ₹5,000-10,000 price segment is emerging as the area of focus, which grew 17% on-year in Q1, in what is being seen as a year of correction for the industry, said Anshika Jain, research analyst, Counterpoint Research."Organic consumer demand and search queries have gone down for smartwatches. The attach ratio has peaked and is no longer increasing. The repeat purchase ratio is also much lower compared to products like TWS (truly wireless stereo) earbuds," Varun Gupta, co-founder, Boult Audio, told ET.

United Spirits on Tuesday announced its Q4FY25 earnings where the liquor maker reported a net profit growth of 75% to Rs 421 crore versus Rs 241 crore in the year ago period. The revenue from operations was reported at Rs 6,634 crore which was a 2% uptick over Rs 6,511 crore reported in the corresponding period of the previous financial year. The profit after tax (PAT) was up 26% from Rs 335 crore reported by the company in Q3FY25 while the revenue from operations fell 14% over 7,732 crore reported in the October-December quarter of FY25.The company's board of directors have recommended a final dividend of Rs 8 per share for the fiscal year 2024-25, subject to shareholders’ approval.Headquartered in Bengaluru, Diageo India has one of the largest manufacturing footprints in alcobev with 35 facilities across India. The company is known for brands like Johnnie Walker, Black Dog, Black & White, VAT 69, Antiquity, Smirnoff and Signature among other brands.United Spirits reported a Q4FY25 Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) at Rs 460 crore which jumped 38% YoY while rising by 12% for the full financial year at Rs 2,243 crore.Q4FY25 reported net sales value (NSV) stood at Rs 3,031 crore, rising by 9% YoY while FY25's NSV was reported at Rs 12,069 crore, registering a 7% uptick.Meanwhile, Q4FY25 underlying NSV was reported at Rs 3,068 crore, witnessing a 10% growth while for FY25, it was at Rs 12,106 crore, a 7% jump.Commenting on company's earnings CEO & Managing Director Praveen Someshwar said that notwithstanding the challenging demand environment, the company has delivered 13.2% NSV growth for P&A in Q4FY25 and 9.9% P&A growth for FY25, and a leveraged EBITDA growth that takes it to the medium-term guidance."Looking ahead, we remain focused on delivering sustained growth while creating long-term value for all our stakeholders in line with our ambition to be the best performing, most trusted and respected CPG company in India,” he said.Also Read: Hindalco Q4 Results: Cons PAT surges 66% YoY to Rs 5,283 crore; revenue rises 16%

Equities are expected to outperform other asset classes in FY26 notwithstanding global trade tensions, US tariffs and geopolitical uncertainties, with Nifty delivering 12%-15% returns. The rise will be anchored by strong domestic demand and a healthy 6.2–6.5% GDP growth, say experts.Shailesh Saraf, smallcase manager & founder at Value Stocks, sees improvement in market sentiments with foreign institutional investors (FIIs) getting back to their ways. "The market sentiment has improved, reflected in FII net inflows of Rs 16,757 crore in FY26 so far, alongside an 8% return from the Nifty 50 and a 10% gain in the Smallcap 100 index," he said. Robin Arya, another smallcase Manager and Founder of GoalFi, lists stable government and potential earnings rebound as key triggers for domestic stock markets while taking a cautiously optimistic outlook for FY26. "We believe this year will be of consolidation with earnings improvement in companies and theme-based investing will be prevalent,” Arya said.While earnings season is at its final leg, Lotusdew Co-Founder Prachi Deuskar claims that India's domestic demand recovery gained momentum in Q4FY25, driven by strong rural consumption, favourable crop yields, and supportive government initiatives. According to her, corporate margins improved, aided by declining input costs in metals, energy, and chemicals, as well as a sharper focus on operational efficiency.As on May 18, 2025, a total of 878 companies have reported their earnings as of with a 10% YoY growth in Q4FY25, Saraf informed. "In FY25, the index has risen by 6% YoY growth, significantly lower than the 35.1% growth recorded in FY24," he added.Triggers that may lead the bullsArya expects corporate earnings to continue to show resilience particularly in the banking, auto, and infrastructure sectors.Inflation remains largely under control with the macroeconomic environment remaining stable.Hurdles that could slow bullsTrade policies pose challenges to the domestic economy, says a smallcase press release, adding that US tariff risks (26%), could affect 12–15% of India's $450B exports. A weak INR has raised import costs, and urban consumption is showing signs of a broad-based slowdown.Also Read: Moody’s US downgrade, a fresh jolt for IT stocks after stellar 30% rally – buy or avoid?What to do?For investors with a longer horizon and a stronger risk appetite, increasing allocation to high-quality smallcaps can pay off as markets continue to climb, Deuskar recommends.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)