Samsung smartwatches have grown in recognition in North America, the place the corporate’s Galaxy Watch shipments in Q1 elevated by 15% from the earlier quarter. This, nevertheless, hasn’t helped the corporate retain its 2nd place on a world scale, as shipments in different markets exterior North America declined 15% year-on-year and 21% quarter-on-quarter.

Despite their success in NAM, Samsung smartwatches misplaced 2nd place globally to Indian smartwatch model Fire-Boltt. For the primary time, Fire-Boltt surpassed Samsung within the world smartwatch market after recording a 9% cargo share in Q1 2023. Similarly, Samsung posted a 9% world cargo share, however Counterpoint Research says Fire-Boltt overtook the Korean firm seemingly by a slim margin.

Meanwhile, Apple’s world smartwatch cargo share dropped from 32% in Q1 2022 to 26% in Q1 2023, however the firm maintained its management over the section.

Even Huawei’s shipments in China declined by 15% in Q1 2023, however due to elevated shipments in areas together with LATAM, MEA, and India, the corporate misplaced solely 9% of cargo share globally. However, this was not sufficient for Huawei to keep away from being pushed off the worldwide smartwatch podium.

India’s smartwatch market grew, pushed by affordability

Looking at smartwatch cargo shares by area, it turns into clearer why Fire-Boltt beat Samsung. The smartwatch market in China, North America, and the remainder of the world shrunk in Q1 2023 — shipment-wise — whereas smartwatch shipments in India grew from 12% in Q1 2022 to 27% in Q1 2023. Local model Fire-Boltt was dominant in India.

Fire-Boltt presents extra reasonably priced smartwatches, and analysts say that India’s wearable market grew 121% YoY due to decrease costs, greater buyer demand, and the truth that smartwatches in India cowl a wider worth vary than most different markets.

It’s price noting that the market evaluation at hand contains each HLOS (High-Level Operating System) smartwatches just like the Samsung Galaxy Watch 5 and Apple Watch, in addition to fundamental smartwatches, which include a lighter OS model and don’t assist third-party apps. They’re cheaper than HLOS watches, and in markets together with India, they appear to be rising in recognition at the next charge than full-fledged smartwatches, particularly as they’re changing into viable replacements for good bands.