Fire-Boltt surpasses Samsung to become 2nd biggest smartwatch brand globally in Q1 2023

Counterpoint Research says that Global market shipments saw a decline of 1.5 percent year on year in Q1, 2023. Still, India’s smartphone market saw a 121 percent year-over-year growth in shipments due to the availability of several low-cost smartwatches from brands like Fire-Boltt, boAt, and Noise.

If you look at the smartwatch shipment market share, Apple is still at the top with a 26% market share. It had a market share of 32% in the same quarter last year. Apple’s shipment fell 20% year on year in Q1 2023. This was also the first time in three years that the company shipped less than 10 million units in Q1.

Fire-Boltt managed to reach 2nd position surpassing Samsung for the first time in global shipment. It has a market share of 9% and saw a 57% growth compared to the previous quarter.

Samsung’s market share dropped to 9% and it manages to be in the third spot. Although it saw increased shipments in North America, other regions saw negative growth. As a result, Samsung’s overall shipments declined by 15% compared to the previous year. Huawei also saw a decline in its shipments in the Chinese market but saw increased shipments in India, LATAM, and MEA.

Several Indian companies offer affordable smartwatches in India. We see a new smartwatch launch on a daily basis. Fire-boltt, Pebble, Noise, and boAt launch at least one smartwatch model every week. Smartwatches in INdia start at Rs. 1000, making them affordable for most people. Although budget smartwatches don’t offer many features, people are happy with notifications and Bluetooth calling features.

Read: Are affordable smartwatches worth it?