Homegrown smart wearable brand Fire-Boltt currently leads India’s position in the global smartwatch market with a 9% market share.
UPDATE – Sun 5/28/23 1:37pm
New Delhi: Local smart wearable device brand Fire-Boltt occupies the second place in the global smart watch market.
According to the Counterpoint Q1 2023 report, Fire-Boltt currently leads India’s positioning in the global smartwatch market with a 9% market share.
“This milestone is a testament to our intense focus on innovation, quality and affordability. Our agile product strategy, intense focus on research and development and our unwavering commitment to bringing our consumers the most affordable yet highest quality products, these are the biggest drivers of our extraordinary growth,” Fire-Boltt co-founders Arnav Kishore and Aayushi Kishore said in a statement.
According to the latest Counterpoint report, Fire-Boltt shipments have roughly tripled compared to the previous year, with the brand growing 57% in the first quarter of 2023.
The report also highlights the impressive growth of the smartwatch market in India, registering a 121% (YoY) growth in the first quarter of 2023.
Additionally, the company says it has seen impressive growth since launching its first smartwatch in October 2020.
The brand started with just 0.3% of the market and jumped to a staggering 11.6% within a year.
In 2022, Fire-Boltt will become the No. 1 smartwatch brand within 15 months of launching its first smartwatch, the company said.
The brand captured a 24.6% market share in the first quarter of 2022 and achieved a whopping 2,000% (year-over-year) growth.
