Fire-Boltt led the market with a 28 per cent share
According to Counterpoint Research, the market share of home manufacturing reached the best ever at 82 per cent, in comparison with simply 4 per cent a 12 months in the past.
India’s smartwatch shipments grew 21 per cent (12 months-on-12 months) within the third quarter (Q3) of 2023 (July-September), with Fire-Boltt main the market, a brand new report confirmed on Thursday.
According to Counterpoint Research, the market share of home manufacturing reached the best ever at 82 per cent, in comparison with simply 4 per cent a 12 months in the past.
The development in Q3 was pushed by excessive stock construct-up for the festive season gross sales in October.
“In this quarter, we saw features like larger screens and OLED displays further trickling down to the lower price bands. As a result, in the Rs 2,000-Rs 3,000 price band, the contribution of >1.9-inch smartwatches stood at 21 per cent, while over half of the devices were available with OLED displays,” stated Senior Research Analyst Anshika Jain.
Fire-Boltt led the market with a 28 per cent share and sported the widest portfolio. It additionally had the bottom ASP (common promoting worth) among the many prime three gamers, the report stated.
Moreover, Noise captured the second spot with a 24 per cent share, boAt secured the third spot with a 16 per cent share, and Fastrack, a sub-model of Titan, captured the fourth spot with an eight per cent market share.
beatXP entered the highest 5 for the primary time after registering 4X (quarter-on-quarter) development in Q3 2023.
According to the report, Apple shipments declined by 52 per cent as its new sequence turned obtainable in late September and with out a refresh to the Watch SE 2022.
The model, nonetheless, remained the market chief within the >Rs 20,000 retail worth band.
“Due to steady push in direction of funds choices, India’s smartwatch ASP (common promoting worth) declined by 41 per cent (12 months-on-12 months) to succeed in its lowest-ever degree. As a outcome, over three-fifths of the market now comes beneath the
