India leaps 171% YoY to become biggest smartwatch market globally

New Delhi, Nov 30 (KNN) In Q3 2022, India’s smartwatch market has become the biggest globally as it grew 171 per cent (year-over-year) to attain this position, said a report by Counterpoint Research.

The global smartwatch market shipments increased 30 per cent (year-over-year) in Q3 despite inflation and geopolitical crises that have continued since the beginning of this year.

Senior Analyst Anshika Jain said, “The main factor behind the record quarter was India’s festive season.”

“Indian brands expanding their product portfolios at affordable price points and emphasis on local manufacturing also contributed to the growth,” added Jain.

Regaining the top spot in the Indian market Noise grew 218 per cent (year-over-year) and Fire-Boltt stood second.

Due to the strong sales of its newly released Apple Watch 8 series, Apple grew 48 per cent (year-over-year).

By launching the new Galaxy Watch 5 series, Samsung increased its shipments by 62 per cent (quarter-over-quarter).  (KNN Bureau)