The Indian smartwatch market grew by 173% compared to the same period in 2022 in the first quarter of 2022.

The Indian smartwatch market grew by 173 percent compared to the same period last year in the first quarter of 2022 (January-March), according to research company Counterpoint. The company says the growth can be attributed to growing consumer interest, several launches during the quarter, and the availability of various discounts and promotions. According to the data, the largest market share was retained by the Indian brand Noise, followed by FireBoltt. On the other hand, the third place went to boAt, followed by Dizo – budget subbrand Realme. Finally, Samsung is still in fifth place, despite the production of smart watches with a premium price tag.

Counterpoint did not report the exact shipment of units in the last quarter, but revealed some details about market share. In the first quarter of 2022, Noise’s share was 23 percent, followed by FireBoltt with 21 percent. The shares of BoAt, Dizo and Samsung were 17.8 per cent, 4.4 per cent and 3.8 per cent respectively. Another highlights counterpoint research includes:

• In the first quarter of 2022, the volume of noise supply doubled compared to the same period last year due to the good performance of new devices. Colorfit Pulse has become the best-selling model for the brand.
• FireBoltt had several launches this quarter, with the Ninja Pro Max being the most popular device. In addition, 57 percent of its watches come with a Bluetooth calling feature.
• BoA recorded a 106 percent increase in y / y and ranked third. The Xtend and Storm models captured nearly two-thirds of its total portfolio. This quarter boA released its first smartwatch Wave Pro 47, made in India.
• In the first quarter of 2022, Apple grew 104 percent compared to the same period in 2022, when its 7 Series variants accounted for two-thirds of shipments. It continued to lead in the premium segment (> 30,000 INR,> $ 400) with a stake of more than 87 percent.
• In the first quarter of 2022, Amazfit decreased by 35 percent over the same period last year. The GTS 2 Mini accounted for more than 30 percent of deliveries. We expect the new GTS Mini 2 to regain some of its market share in the coming quarter.
• OnePlus ranked first in the retail price range of 10,000-15,000 INR ($ 133-200) with a stake of about 45 percent.

In the first quarter of 2022, Xiaomi recorded strong growth of 238 percent for the quarter. Its recently introduced Redmi Watch 2 Lite model works well in the market.

Commenting on market trends, senior analyst-researcher Anshika Jain said the group’s contribution of less than Rs 5,000 increased to 87 per cent from 78 per cent in the first quarter of 2021. The segment of up to Rs 2,000 reached the highest share in history at 14 per cent from 2 per cent a year. back. In a blog post, Jane added: “Many brands have started to focus on this low price level to attract first-time users and acquire a smart user base. Consumer awareness has also increased in this segment thanks to the continuous efforts of brands to market and promote through online and offline channels.

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