Homegrown wearable and audio brand Fire-Boltt has officially been adjudged as the undisputed leader in the smartwatch player in India as well as internationally. As per the latest Counterpoint Research report, the Indian brand registered a stupendous 394% Quarter-on-Quarter growth during Q3 2021 to become the fastest growing smartwatch brand. Globally, Fire-Boltt ranked alongside Apple and realme as the fastest growing smartwatch players during the given timeframe. Notably, the Q2 2021 report by another global research entity, the International Data Corporation (IDC), had mentioned that Fire-Boltt held 5.5% of the market share during the period while the latest report shows that the market share currently held by the company is 17%.
“Both IDC and Counterpoint Research reports confirm that Fire-Boltt is now the biggest names in India when it comes to smartwatches. The success of the brand can be attributed to various factors, including our back-to-back launches and collaborations with the likes of Virat Kohli and Vicky Kaushal – which also find a mention in the Counterpoint Research report. We, however, firmly believe that it is our organic outreach over the initial few years of inception that has laid the foundation of our phenomenal growth story that is akin to the scripting of a history,” said Fire-Boltt co-founders Aayushi and Arnav Kishore on the latest market reports.
The co-founders further said that it is a matter of pride for them that not global but home-grown brands contribute to nearly 75% of the Indian smartwatch market share, clocking a QoQ growth of 159% and YoY growth rate of a whopping 293%, according to the Q3 2021 report by Counterpoint Research.
The official declaration of Fire-Boltt leading the wearable space comes just days after the company forayed into the international market. Fire-Boltt’s brand ambassador and cricketing icon Virat Kohli last month unveiled the company’s entire smartwatch line for the UAE market. The Indian brand is slated to further expand its presence across other markets like the Middle East, Sharjah, and other Emirates within the next few weeks.