Top

India’s Q2 Smartwatch Shipments Highest Ever, Fire-Boltt Leads

  • Fire-Boltt led the market for the first time in Q2 2022 with 28% share.
  • Noise second with 26% share overall, but it was the best-selling brand in online channels.
  • boAt, together with its sub-brands, maintained the third place with 19% share.
  • Online channels contribute 67% to the total shipment volume with Amazon leading.

New Delhi, Boston, Toronto, London, Hong Kong, Beijing, Taipei, Seoul – Aug 19, 2022 

India’s smartwatch market grew 312% YoY in Q2 2022, according to the latest research from Counterpoint’s IoT Service. This growth can be attributed to growing consumer interest in smartwatches as an accessory and as a fitness tracker. There were numerous product launches throughout the quarter as brands sought to grow their offline presence across the country.

Counterpoint Research: India Smartwatch Market Q2 2022

Commenting on the market dynamics, Senior Research Analyst Anshika Jain commented, “India’s Smartwatch shipments grew by 4x annually in Q2 2022, with Fire-Boltt leading. Fire Boltt and Noise captured more than half of the total smartwatch market. The market is very dynamic and the top three positions will be fluid in the coming quarters. In terms of channels, we are seeing a steady increase in sales through offline channels with brands launching offline exclusive models and extending their partnerships with distributors across the country. One-third of the smartwatches are sold offline, the highest ever share. In the online domain, Amazon led the market followed by Flipkart, and with Noise, boAt and Fire-Boltt being the best-selling brands.”

Counterpoint Research: India Smartwatch Online and Offline

Commenting on smartwatch models, Research Analyst Harshit Rastogi said, “We saw over 300 smartwatch models selling this quarter, the highest ever number. The top three brands combined offered 75 different models. The quarter saw over 50 new launches from major brands. Low-end smartwatches continue to attract more competition as half of the total models are in the sub-INR 3500 ($44) retail price band. Brands are pushing various models as consumers look for different options to choose from including dial size, display form etc. The colours and materials used continue to play a huge role in the purchase decision.”

Market Summary

  • Fire-Boltt led the market and had the most product launches in Q2 2022. Its increasing offline presence and good product features at affordable prices helped the brand to take the lead.
  • Noise captured the second spot with 26% share and registered 293% YoY growth. The brand has ramped-up its domestic production this quarter and contributed 3/4th of the locally manufactured smartwatches. It introduced more models with Bluetooth calling features and this feature was present in 40% of its shipments for the quarter.
  • boAt registered 199% YoY growth and captured the third position. The Storm and Xtend models remained the most popular. It launched “boAt Primia”, its first smartwatch with Bluetooth calling this quarter. Its sub-brands TAGG and Defy continue to grow as well.
  • Samsung grew 295% YoY in Q2 2022. The Galaxy Watch 4 continued to be its top-selling model thanks to frequent promotional offers.
  • Dizo remained flat QoQ taking the fifth spot. Dizo Watch 2 Sports was the top model for the brand for the quarter. The brand also launched the offline-only Watch 2 Sports-i during the quarter.
  • Titan along with its sub-brand Fastrack was 6th with 2% market share. It leveraged its existing brand value and wide distribution network across the nation.
  • realme grew 76% YoY this quarter and took the 7th It also launched its first smartwatch with Bluetooth calling, the Watch R100. The brand maintained its presence almost equally across channels.
  • Apple registered 197% growth in Q2 2022. The Watch Series 7 continued to be its best seller and has reached to almost 250k shipments till the end of the quarter in India. With upcoming launches in Q3 2022, Apple is expected to gain further market share.
  • Pebble grew 267% in Q2 2022. It was acquired by Mensa Brands during the quarter with the aim to expand its distribution and further accelerate its growth.
  • OnePlus maintained its first position in the INR 10,000-INR 15,000 ($125-$190) retail price band due to the popularity of the OnePlus Watch.

Background

Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects, and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

Analyst Contacts:

Anshika Jain

 

 

Harshit Rastogi

 

 

Counterpoint Research
press(at)counterpointresearch.com

Related Posts

Counterpoint research is a young and fast growing research firm covering analysis of the tech industry. Coverage areas are connected devices, digital consumer goods, software & applications and other adjacent topics. We provide syndicated research reports as well as tailored. Our seminars and workshops for companies and institutions are popular and available on demand. Consulting and customized work on the above topics is provided for high precision projects.

Term of Use and Privacy Policy

Counterpoint Technology Market Research Limited

Registration

In order to access Counterpoint Technology Market Research Limited (Company or We hereafter) Web sites, you may be asked to complete a registration form. You are required to provide contact information which is used to enhance the user experience and determine whether you are a paid subscriber or not.
Personal Information When you register on we ask you for personal information. We use this information to provide you with the best advice and highest-quality service as well as with offers that we think are relevant to you. We may also contact you regarding a Web site problem or other customer service-related issues. We do not sell, share or rent personal information about you collected on Company Web sites.

How to unsubscribe and Termination

You may request to terminate your account or unsubscribe to any email subscriptions or mailing lists at any time. In accessing and using this Website, User agrees to comply with all applicable laws and agrees not to take any action that would compromise the security or viability of this Website. The Company may terminate User’s access to this Website at any time for any reason. The terms hereunder regarding Accuracy of Information and Third Party Rights shall survive termination.

Website Content and Copyright

This Website is the property of Counterpoint and is protected by international copyright law and conventions. We grant users the right to access and use the Website, so long as such use is for internal information purposes, and User does not alter, copy, disseminate, redistribute or republish any content or feature of this Website. User acknowledges that access to and use of this Website is subject to these TERMS OF USE and any expanded access or use must be approved in writing by the Company.
– Passwords are for user’s individual use
– Passwords may not be shared with others
– Users may not store documents in shared folders.
– Users may not redistribute documents to non-users unless otherwise stated in their contract terms.

Changes or Updates to the Website

The Company reserves the right to change, update or discontinue any aspect of this Website at any time without notice. Your continued use of the Website after any such change constitutes your agreement to these TERMS OF USE, as modified.
Accuracy of Information: While the information contained on this Website has been obtained from sources believed to be reliable, We disclaims all warranties as to the accuracy, completeness or adequacy of such information. User assumes sole responsibility for the use it makes of this Website to achieve his/her intended results.

Third Party Links: This Website may contain links to other third party websites, which are provided as additional resources for the convenience of Users. We do not endorse, sponsor or accept any responsibility for these third party websites, User agrees to direct any concerns relating to these third party websites to the relevant website administrator.

Cookies and Tracking

We may monitor how you use our Web sites. It is used solely for purposes of enabling us to provide you with a personalized Web site experience.
This data may also be used in the aggregate, to identify appropriate product offerings and subscription plans.
Cookies may be set in order to identify you and determine your access privileges. Cookies are simply identifiers. You have the ability to delete cookie files from your hard disk drive.