According to Counterpoint Report Q1 2023, the domestic smart wearable company Fire-Boltt has surpassed industry heavyweights Samsung and Huawei to claim the second position in the worldwide wristwatch market with 9% market share. For Fire-Boltt, which only recently entered the smartwatch industry, this represents a tremendous accomplishment. Fire-Boltt’s shipments increased by three times, the brand registered a 57% growth in this quarter, and registered a 121% YoY growth in Q1 2023.
Fire-Boltt has experienced phenomenal growth since its first smartwatch launch in October 2020, leapfrogging from 0.3% to 11.6% within a year. In 2022, it became the No.1 smartwatch brand, capturing a market share of 24.6% and registering a 2000% YOY growth. Fire-Boltt has set a benchmark in the smartwatch market with its commitment to innovation, quality, and customer satisfaction.
Commenting on this latest milestone, Fire-Boltt Co-FoundersArnav Kishore and Aayushi Kishore said, “Our agile product strategy, a strong focus on R&D, and our unwavering commitment to providing the most affordable yet quality products to our consumershave been some of the biggest drivers of our extraordinary growth.”
