The smartwatch market in India witnessed a record shipment of devices in Q3, led by brands like Noise and Boat, amounting to a growth rate of 159% in the third quarter, as per a report by Counterpoint Research. As for the year-over-year (YoY) growth, the market jumped by 293%, with the domestic brands contributing to 75% of the sales in Q3, compared to 38% in Q3 2020.
Noise retained the top spot for the fifth consecutive quarter. Boat came in second with Boat Storm remaining the most popular model. Fire-Boltt got the third spot and became the fastest growing smartwatch brand this quarter with a QoQ growth of 394%.
As per the report, the spurt in growth of the smartwatch market could be attributed to “promotions across various platforms along with new launches, which contributed to around 28% of the total market in terms of shipments.”
Noise saw a 231% YoY and 141% QoQ growth in Q3 2021, capturing 25% of the market while Boat grew 132% QoQ with 24% market share.
The performance of Realme, Amazfit, Samsung and Apple
Coming to the other brands. Realme registered 267% QoQ growth in Q3 2021, and took the fourth spot in the market with a 7% share. The Watch 2 series by the company proved to be popular and contributed to more than 70% of company’s shipments.
Apple saw 289% QoQ growth this quarter with the Watch SE series contributing the most.
Amazfit saw a growth of 54% QoQ with the GTS 2 Mini being its most popular product this quarter. Samsung grew 153% QoQ and 40% YoY this quarter with the Galaxy Watch Active 2 contributing to more than half of Samsung’s shipments in Q3 2021.