Fire-Boltt, a homegrown smart wearable brand, has taken the second spot in the global smartwatch market with 9% market share, surpassing industry giants like Samsung and Huawei. This is a significant achievement for Fire-Boltt, which entered the smartwatch category just 3 years ago.
It 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 experienced phenomenal growth since it launched its first smartwatch in October 2020, leapfrogging from 0.3% to 11.6% in a year. In 2022, it became the No. 1 smartwatch brand, with a market share of 24.6% in Q122 and a whopping 2000% YOY growth.
Despite the industry growing at a stagnant pace, Fire-Boltt has registered phenomenal growth. Fire-Boltt’s shipments increased by three times compared to the previous year, with a 57% growth in Q1 2023. India’s smartwatch market also saw a 121% YoY growth in Q1 2023. Commenting on this latest milestone, Fire-Boltt Co-FoundersArnav Kishore and Aayushi Kishore said, “We will continue to work aggressively to make Fire-Boltt a global force to reckon with and achieve even bigger milestones in the near future.”
