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Boat led the overall wearables market with a volume share of 26% in 2023. Noise slotted into the second spot with a 12.1% share, while Fire-Boltt ranked third with a 10.1% share, IDC data showed. Oppo (including OnePlus) ranked fourth with a 7.8% share, while Boult Audio rounded off at the fifth spot with a 6.9% share.
Smartwatches: “We are now observing that OEMs are tapping into new emerging markets like Southeast Asia and the Middle East and foraying into other wearable categories like smart rings to accentuate their presence in the market,” she said.
According to a valuation report commissioned by Noise prior to the fundraise, the company was valued at around $300 million, as per the regulatory filings sourced from RoC.
India smartwatch market sees 21% YoY growth in Q3 2023, with domestic manufacturing market share reaching a record high of 82%. Counterpoint Research attributes the growth to high inventory build-up for festive season sales, as well as larger screens and OLED displays in the Rs 2,000-Rs 3,000 price range. Domestic brands like Fire-Boltt, Noise, Boat, Fastrack, and beatXP lead the market, while Apple experienced a decline in shipments by 52%.
The Great Freedom Festival 2023 sale on Amazon is coming to a close shortly. Smartwatches featured in the sale are currently offered at exciting discounts.
As per the latest Counterpoint report, Fire-Boltt's shipments increased by approximately three times compared to the previous year and the brand registered a 57 per cent growth in Q1 2023.
Don't let this opportunity slip away – head over to Amazon.in now to take advantage of the last day of 'Mega Electronics Days' sale and save big on your favorite electronics. Happy shopping!, Technology & Science News, Times Now
India’s smartwatch market grew 312% YoY in Q2 2022, according to the latest research from Counterpoint’s IoT Service. This growth can be attributed to growing consumer interest in smartwatches as an accessory and as a fitness tracker.