GUWAHATI, May 30: Fire-Boltt, a homegrown smart wearable brand, has made waves in the smartwatch industry by securing the second position in the global smartwatch market. According to the Q1 2023 Counterpoint Report, Fire-Boltt has taken the lead in India’s representation within the global smartwatch market, commanding a 9% market share and surpassing established industry giants such as Samsung and Huawei. This remarkable achievement solidifies Fire-Boltt’s position as a dominant brand in the smartwatch arena, particularly considering that it entered the market just three years ago in 2020.
Since the launch of its inaugural smartwatch in October 2020, Fire-Boltt has experienced phenomenal growth. Starting with a modest 0.3% market share, the brand quickly skyrocketed to an impressive 11.6% within a year. In 2022, Fire-Boltt astounded the industry by becoming the top smartwatch brand within a mere 15 months of its first smartwatch release. In Q1 2022, the brand captured an astounding 24.6% market share and achieved an extraordinary 2000% year-on-year growth, outperforming an industry that was growing at a stagnant pace.
Co-founders of Fire-Boltt, Arnav Kishore and Aayushi Kishore, expressed their delight regarding this recent milestone, stating, “We are extremely honored and proud to position an Indian brand among global frontrunners. This achievement is a testament to our unwavering focus on innovation, quality, and affordability. Our agile product strategy, strong emphasis on research and development, and our commitment to providing the most affordable yet high-quality products to consumers have been the key drivers of our extraordinary growth. We will continue to work tirelessly to establish Fire-Boltt as a global force to be reckoned with, accomplishing even greater milestones in the near future.”
With over 30 smartwatch launches in the past six months, Fire-Boltt has made a significant impact on the market by offering a wide range of smartwatches equipped with the latest industry features at affordable price points. The brand’s aggressive product expansion, incorporation of smart features, and attractive pricing have positioned Fire-Boltt as one of the most prominent names in the smartwatch category.