Indian wearable brand Fire-Boltt ranks second in global smartwatch market: Report
Firebolt, a smart wearable brand, ranks second in the global smartwatch market.
According to Counterpoint’s Q1 2023 report, Fire-Boltt now leads India in the global smartwatch market with a market share of 9%.
“This achievement is a testament to our strong focus on innovation, quality and affordability. Our flexible product strategy, strong focus on research and development, and unwavering commitment to providing the most affordable yet highest quality products to our customers have been the biggest drivers of our exceptional growth,” Fire-Boltt founders Arnav Kishore and Aayushi Kishore. , he said in a statement.
According to a recent Counterpoint report, Fire-Boltt shipments nearly tripled year-over-year, and the brand grew by 57% in the first quarter of 2023.
The report also highlighted the impressive growth of the smartwatch market in India, which grew by 121% (yoy) in the first quarter of 2023.
Additionally, the company said it has seen exponential growth in sign-ups since announcing its first smartwatch in October 2020.
The brand started with just 0.3 percent market share and jumped to 11.6 percent in a year.
The company said that Fire-Boltt became the number one smartwatch in 2022 within 15 months of launching its first smartwatch.
The brand captured 24.6 percent market share in the first quarter of 2022 and registered a whopping 2,000 percent growth (yoy).
