On May 30th, Gizcoupon reported that according to data from Counterpoint Research, a renowned analysis firm, Fire-Boltt accounted for 9% of the global smartwatch market shipments in the first quarter of 2023. Interestingly, Samsung also held a 9% share of global shipments. With a slight advantage, Fire-Boltt surpassed the South Korean tech giant in the global rankings. Gizcoupon attached the following share chart:
Fire-Boltt, an Indian smartwatch brand, has gained popularity in the Indian market due to its smartwatches that cater to customer demands and follow a cost-effective strategy, offering more affordable prices. This has consequently boosted the sales of Fire-Boltt smartwatches.
On the other hand, although the global shipment share of Apple Watch decreased from 32% in the first quarter of 2022 to 26% in the first quarter of 2023, it still maintains its leading position in the smartwatch market.
The report indicates that Fire-Boltt smartwatch shipments in India increased from 12% in the first quarter of 2022 to 27% in the first quarter of 2023. This growth has solidified the dominant position of the brand in the Indian smartwatch market and serves as the reason for its slight edge over Samsung in global shipments.
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It is important to note that these statistics encompass smartwatches similar to the Samsung Galaxy Watch 5 and Apple Watch, as well as entry-level smartwatches that do not support the installation of third-party apps.
