According to the latest information, the smartwatch market in India recorded strong growth in the third quarter of 2023 (3Q23).
In Q3, which is the period between July and September, India’s smartwatch shipments grew 21 percent year-on-year (YoY), according to the research firm Counterpoint.
The report pointed out that domestic manufacturing had a share of 82 percent in the quarter, which is the highest ever recorded. In comparison, domestic manufacturing had a share of a mere 4 percent a year ago.
Fire-Boltt Continues To Lead The Indian Smartwatch Market
Fire-Boltt, which is India’s largest smartwatch brand maintained its market share of 28.0 percent in Q3. In 2Q23, the company had a market share of 28.8 percent. Fire-Boltt recorded a significant market in the global smartwatch market as well, when it surpassed Samsung to take the second spot in 1Q23.
