India’s smartwatch market records 173% growth in Q1; Noise leads, Fire-Boltt jumps to second place : Rashtra News #Indias #smartwatch #market #records #growth #Noise #leads #FireBoltt #jumps #place India’s smartwatch market recorded a 173% on-year growth in the January-March quarter, as growing consumer interest, multiple launches, and discounts and promotions prompted consumers to splash out.
India's wearable market has grown by 34% after it shipped 134.2 million units last year. Find out the top 5 brands in each category and their performance in 2023.
India smartwatch market sees 21% YoY growth in Q3 2023, with domestic manufacturing market share reaching a record high of 82%. Counterpoint Research attributes the growth to high inventory build-up for festive season sales, as well as larger screens and OLED displays in the Rs 2,000-Rs 3,000 price range. Domestic brands like Fire-Boltt, Noise, Boat, Fastrack, and beatXP lead the market, while Apple experienced a decline in shipments by 52%.
An IDC report states that the country saw an 80.9% rise in wearable shipments in Q1 2023. Over 25 million wearables were shipped in India in the first quarter of 2023, with smartwatches leading the way.