India’s Fire-Boltt becomes world number two smartwatch brand after beating Samsung: 5 things to know

India’s Fire-Boltt beats Samsung

• Fire-Boltt has taken the lead in the global smartwatch market with a 9 per ent market share, surpassing major players such as Samsung and Huawei, according to the Counterpoint report for the first quarter of 2023.
• Fire-Boltt experienced a threefold increase in its shipments from the previous year and a 57 percent growth from the previous quarter.
• Meanwhile, Samsung saw a rise of 15 percent in its shipments in North America but a decrease in shipments in other significant markets.
• Samsung experienced a decrease in its worldwide shipments by 15 percent in comparison to the previous year and a 21 per cent decrease in comparison to the previous quarter.

India’s Fire-Boltt beats Samsung: few things to know

• Apple was on top with 26 percent, but its shipment volume fell 20 percent Year-on-Year (YoY) in the first quarter of this year.
• Huawei witnessed a 14 percent YoY decline in its shipments in its home market, but it saw an increase in shipments in India, LATAM and MEA, limiting its overall decline in global shipments to 9 percent.
• India has regained its position as the top region for global smartwatch shipments, surpassing North America. It currently holds a 27 percent share of the market.
• The smartwatch market in China saw a decline of 28 percent in comparison to the previous year due to the country’s economy recovering at a slower pace than anticipated.