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Fire-Boltt surpasses Samsung to become the No.2 smartwatch brand
Arnav Kishore_CEO & Founder_Fireboltt As per the latest Counterpoint report, the homegrown brand grabbed a 9% global market share in Q1 2023, surpassing industry giants. Fire-Boltt became the first Indian brand to break into the top 2 brands in high technology industries. Fire-Boltt registered a 57% growth in this quarter and its shipments increased by […]
Arnav Kishore_CEO & Founder_Fireboltt
- As per the latest Counterpoint report, the homegrown brand grabbed a 9% global market share in Q1 2023, surpassing industry giants.
- Fire-Boltt became the first Indian brand to break into the top 2 brands in high technology industries.
- Fire-Boltt registered a 57% growth in this quarter and its shipments increased by approximately three times compared to the previous year
New Delhi (India), June 2: Fire-Boltt, a homegrown smart wearable brand, has set the smartwatch industry on fire by grabbing the second spot in the global smartwatch market. As per Counterpoint Report Q1 2023, Fire-Boltt is now leading India’s positioning in the global smartwatch market with a 9% market share, surpassing industry giants like Samsung and Huawei. This marks a significant achievement for Fire-Boltt, which entered the smartwatch category just 3 years ago in 2020. The brand was recently declared India’s No.1 smartwatch player by IDC, and the Counterpoint report further solidifies its position as a dominant brand in the space.
Fire-Boltt has registered phenomenal growth since it launched its first-ever smartwatch in October 2020. The brand started with a mere 0.3% market share and leapfrogged to a staggering 11.6% within a year. In the year 2022, Fire-Boltt took the industry by storm when it became the No.1 smartwatch brand within 15 months of its first smartwatch launch. The brand captured a market share of 24.6% in Q122 and registered a whopping 2000% YOY growth, despite the industry growing at a stagnant pace.
As per the latest Counterpoint report, Fire-Boltt’s shipments increased by approximately three times compared to the previous year, and the brand registered a 57% growth in this quarter. The report also highlights the impressive growth of India’s smartwatch market, which registered a 121% YoY growth in Q1 2023.
