Tech News Desk – According to the latest report by market research firm Counterpoint, global smartwatch shipments are set to witness a year-on-year (YoY) decline of 1.5 percent in the first quarter of 2023, while the figures differ in the Indian context. India managed to register 121% YoY growth in shipments due to strong demand for low-cost smartwatches from domestic brands such as Firebolt, Noise and boAt. Counterpoint has given this information in its new report.
According to the report, Apple has been the leading brand in the smartwatch shipment market in the first quarter of this year, while homegrown brand Firebolt has overtaken Samsung to take the second spot. Samsung is now in third place. Counterpoint Research said in its Global Smartwatch Model Tracker report that global smartwatch shipments declined by 1.5 percent year-on-year in the first three months of 2023. Meanwhile, the huge demand for entry-level wearables has tipped the Indian market.
Apple has been doing well in terms of shipments globally but its market share has declined by 6 per cent. Earlier Apple’s market share was 32 percent, which has now increased to 26 percent. People have not liked Apple Watch Series 8 much. The report said that this is the first time that Apple has sold less than one crore smartwatches in the first quarter.
Domestic brand Fire-Bolt has set flags in terms of sales. It has left behind a company like Samsung. Compared to other quarters, Fire-Bolt has achieved a growth of 57 percent this time. For the first time, the share of Indian companies in smartwatch shipments in India has reached more than 90 percent. Huawei has found the fury in the Indian market.