India’s smartwatch shipments surge 50% in 2023; Fire-Boltt, Noise lead: Counterpoint

NEW DELHI: Smartwatch shipments in India surged 50% year-over-year in 2023 driven by the rising penetration of smartwatches, proliferation of affordable devices, Indian brands’ enhanced efforts to grow sales, and local manufacturing, according to a Counterpoint Research report released on Wednesday.

“While the market continues to register high growth rates, we are seeing some stabilisation, signaling wider adoption. The quarterly growth rates have come down from triple to double digits. We expect the market to grow 23% YoY in 2024,” said Senior Research Analyst Anshika Jain.