In Q3-21, India's Smartwatch Market Recorded its highest ever shipments with Apple taking a huge leap with their SE Model
India’s smartwatch market registered its highest ever shipments in Q3 2021 to have a record QoQ growth of 159%, according to the latest research from Counterpoint’s IoT service. In YoY terms, the growth was 293%. The top three brands contributed to almost two-thirds of the total market. Local brands Noise, boat and Fire Boltt, took 75% market share.
Senior Research Analyst Anshika Jain: "Q3 is crucial for the smartwatch players as this is the time when they witness the highest growth. To meet the anticipated surge in demand during the festive sale, the brands push increased shipments into the channel. Besides, they come up with multiple launches and big discount schemes throughout the quarter. The market remained competitive in Q3 2021 with Noise and Boat together capturing almost 50% of it. Fire-Boltt, Apple and realme emerged as the fastest growing brands during the quarter."
Apple had a great quarter with 289% QoQ growth. Its major contribution came from the SE series launched last year. Even the Series 3 contribution remained high. It led the market in the INR 20,000 and above price band. For more, read the full Counterpoint report.
Indian brands boat and Fire Boltt, that didn't make the list in 2020, dramatically surged in 2021 knocking Apple out of the top five smartwatch players despite Apple's huge leap in shipments.