According to Counterpoint Research, Noise was ranked second with 26 percent share (best selling brand across online channels) and boAt along with its sub-brands maintained the third place with 19 percent share.
Online channels contributed 67 percent of the total shipment volume, with Amazon leading.
Anshika Jain, Senior Research Analyst, said, “India’s smartwatch shipments grew 4x year-on-year in Q2 of 2022, with Fire-bolt leading the way. Fire-bolt and noise captured more than half of the total smartwatch market.”
Samsung grew 295 percent (YoY) in the second quarter as the Galaxy Watch 4 remained its best-selling model due to frequent promotional offers.
Dijo remained flat with fifth place. The Dizo Watch 2 Sports was the brand’s top model for the quarter.
Realme increased by 76 percent and also launched the Watch R100, its first smartwatch with Bluetooth calling.
“The market is very dynamic and the top three positions will be liquid in the coming quarters,” Jain said.
Over 300 smartwatch models were sold in the country during the quarter, the highest ever.
“The top three brands combined offered 75 different models. The quarter saw over 50 new launches from major brands. Low-end smartwatches continue to attract more competition as half of the total models are in the sub-Rs 3,500 (Rs. $44) in the retail price band,” said research analyst Harshit Rastogi.
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