The latest numbers coming out of India in terms of smartwatch shipments indicate that local manufacturers are sustaining a strong overall performance. Research firm Counterpoint has just released its Q3 2021 figures for smartwatch shipments in the Indian market. The report shows the market recorded its highest performance yet during the quarter.
Counterpoint Technology Market Research is a global research firm with a niche in the tech, media, and telecom industries. It has continued to churn highly reliable numbers across several markets. The Indian smartwatch market recorded an increase of 159% in shipments in the third quarter. The numbers also indicated that year-on-year, the growth was 293%. The surge in shipments was driven mainly by the top three brands in the market: Noise, boAt, and Fire-Boltt, accounting for 66% of the shipments. Noise grew by 141% from Q2, while boAt grew by 132%, and Fire-Boltt had a massive 394% growth from Q2. The market share of the trio was 25%, 24%, and 17% respectively.
Historically, Q3 has been the best quarter for smartwatch brands, as that is the period when there is a projected surge in demand to meet the festivities of the holidays and the end of the year. In addition, manufacturers come up with several incentive schemes and multiple launches to have a piece of the market. The strong performance of the local smartwatch brands, which accounted for 75% of the total shipments for the quarter, is also seen as a plus. It reflects the success of the extensive measures including celebrity endorsements, customer-friendly pricing, discount offers, and the production of high-quality devices that could measure up with foreign standards.
Realme and Amazfit had impressive showings while Samsung, Apple, and OnePlus also had impressive growth numbers from the previous quarter. Although the actual sales numbers are not available from the Counterpoint report, they could provide some great insights into the growth trajectory of smartwatch brands in the subcontinent.
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