boAt, one of many essential well-liked shopper electronics startups, started by selling earphones and now sells various strains of merchandise. This moreover consists of smartwatches. The company’s smartwatch cargo share fell in Q1 2022 to 17.8% compared with 23.7% in Q1 2021. Since early 2021, many new producers have entered the market, and together with this, there have been chipset shortages which moreover contributed to points with manufacturing and supply.
Regardless, boAt registered 106% YoY progress all through the yr and stood throughout the third place behind Fireplace-Boltt and Noise, taking the second and first place, respectively. The knowledge comes from Counterpoint’s India Smartwatch Shipments Model Tracker, Q1 2022. Discover that all of this data is for the Indian market.
Apple and OnePlus Moreover Made Good Strides
In keeping with the report, Apple grew 104% YoY in Q1 2022, with the Watch Assortment 7 contributing to two-thirds of the shipments in India. Apple saved its lead throughout the premium section smartwatches in India with over 87% share.
Inside the Rs 10,000 – Rs 15,000 section, OnePlus took the first place. On the price range, OnePlus had a market share of 45%.
All through the quarter, Xiaomi moreover registered a strong progress of 238%, with its Redmi Watch 2 Lite performing pretty properly accessible out there.
Amazfit didn’t have a wonderful quarter, though. The company’s product sales declined 35% YoY in Q1 2022. The GTS 2 Mini contributed to 30% of its shipments. Counterpoint expects GTS 2 Mini’s newer model to comprehend a couple of of the market share once more.
Fireplace-Boltt had a reasonably good quarter which helped the company take the second place throughout the smartwatch cargo share all through the quarter. Noise, as talked about above, saved its lead accessible out there share. Noise is no doubt probably the most recognised producers in India within the case of moderately priced smartwatches and digital gear.
It’s going to be attention-grabbing to see whether or not or not each different smartwatch participant can fight with Apple throughout the premium class.