India’s Fire-Boltt becomes world number two smartwatch brand after beating Samsung: everything you must know

Published On: June 5, 2023

Highlights

Fire-Boltt has taken a lead over Samsung in the global smartwatch market with a 9 per cent market share.
Samsung saw a 15 per cent rise in its shipments in North America but a decrease in shipments in other markets.
Apple was on top with 26 per cent, but its shipment volume fell 20 per cent YoY in the first quarter of this year.

Homegrown smartwatch brand Fire-Boltt has surpassed South Korean tech giant Samsung to become the number two smartwatch brand in the world, according to a new report. Even though Samsung became more popular in North America, it shipped less outside of the area, giving the Indian brand a narrow win.

Show Full Article

India’s Fire-Boltt beats Samsung

Fire-Boltt has taken the lead in the global smartwatch market with a 9 per ent market share, surpassing major players such as Samsung and Huawei, according to the Counterpoint report for the first quarter of 2023.
Fire-Boltt experienced a threefold increase in its shipments from the previous year and a 57 percent growth from the previous quarter.
Meanwhile, Samsung saw a rise of 15 percent in its shipments in North America but a decrease in shipments in other significant markets.
Samsung experienced a decrease in its worldwide shipments by 15 percent in comparison to the previous year and a 21 per cent decrease in comparison to the previous quarter.

India’s Fire-Boltt beats Samsung: few things to know

Apple was on top with 26 percent, but its shipment volume fell 20 percent Year-on-Year (YoY) in the first quarter of this year.
Huawei witnessed a 14 percent YoY decline in its shipments in its home market, but it saw an increase in shipments in India, LATAM and MEA, limiting its overall decline in global shipments to 9 percent.
India has regained its position as the top region for global smartwatch shipments, surpassing North America. It currently holds a 27 percent share of the market.
The smartwatch market in China saw a decline of 28 percent in comparison to the previous year due to the country’s economy recovering at a slower pace than anticipated.