We got the best Samsung deals! Galaxy S24 Ultra, Watch 6, Z Fold 5 or, Z Flip 5.

SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission.

Notifications
    News for you

    Samsung smartwatches lose 2nd place to Indian brand Fire-Boltt

    Watch
    By 

    Last updated: May 26th, 2023 at 16:54 UTC+02:00

    Samsung smartwatches have grown in popularity in North America, where the company's Galaxy Watch shipments in Q1 increased by 15% from the previous quarter. This, however, hasn't helped the company retain its 2nd place on a global scale, as shipments in other markets outside North America declined 15% year-on-year and 21% quarter-on-quarter.

    Despite their success in NAM, Samsung smartwatches lost 2nd place globally to Indian smartwatch brand Fire-Boltt. For the first time, Fire-Boltt surpassed Samsung in the global smartwatch market after recording a 9% shipment share in Q1 2023. Similarly, Samsung posted a 9% global shipment share, but Counterpoint Research says Fire-Boltt overtook the Korean company seemingly by a narrow margin.

    Meanwhile, Apple's global smartwatch shipment share dropped from 32% in Q1 2022 to 26% in Q1 2023, but the company maintained its leadership over the segment.

    Even Huawei's shipments in China declined by 15% in Q1 2023, but thanks to increased shipments in regions including LATAM, MEA, and India, the company lost only 9% of shipment share globally. However, this was not enough for Huawei to avoid being pushed off the global smartwatch podium.

    India's smartwatch market grew, driven by affordability

    Looking at smartwatch shipment shares by region, it becomes clearer why Fire-Boltt beat Samsung. The smartwatch market in China, North America, and the rest of the world shrunk in Q1 2023 — shipment-wise — while smartwatch shipments in India grew from 12% in Q1 2022 to 27% in Q1 2023. Local brand Fire-Boltt was dominant in India.

    Fire-Boltt offers more affordable smartwatches, and analysts say that India's wearable market grew 121% YoY thanks to lower prices, higher customer demand, and the fact that smartwatches in India cover a wider price range than most other markets.

    It's worth noting that the market analysis at hand includes both HLOS (High-Level Operating System) smartwatches like the Samsung Galaxy Watch 5 and Apple Watch, as well as basic smartwatches, which come with a lighter OS version and don't support third-party apps. They're cheaper than HLOS watches, and in markets including India, they seem to be growing in popularity at a higher rate than full-fledged smartwatches, especially as they're becoming viable replacements for smart bands.

    Via BusinessWatch AppleGalaxy Watch 5Galaxy Watch 5 ProHuaweiIndiaSamsung Electronics

    You might also like

    Samsung’s first acquisition in 7 years could be of an AC company

    Samsung’s first acquisition in 7 years could be of an AC company

    Despite having billions of dollars in cash, Samsung hasn't made any acquisitions over the past seven years. Its last major acquisition was that of Harman International. Recent reports have suggested that the company is looking to be more active in the mergers and acquisitions segment now, and it appears Samsung may already have a large.t […]

    • By Adnan Farooqui
    • 14 hours ago
    iPhones could finally get a feature present on Galaxy phones since 14 years

    iPhones could finally get a feature present on Galaxy phones since 14 years

    The first iPhone was launched in 2007, while the first Galaxy smartphone was unveiled in 2009. Ever since their launch, Android and iOS have copied features from each other, but Android has always been better at UI customization. While Apple has made several improvements in the past few years, it still lacks a basic feature […]

    • By Asif Iqbal Shaik
    • 20 hours ago
    Galaxy Book 4 is now available in India

    Galaxy Book 4 is now available in India

    Last month, Samsung launched the Galaxy Book 4 360 and the Galaxy Book 4 Pro in India. The company has now added one more laptop to its 2024 laptop lineup: Galaxy Book 4. It is the most affordable laptop in the Galaxy Book 4 series, and you can now purchase it in India. This laptop […]

    • By Asif Iqbal Shaik
    • 2 days ago
    Apple being sued by the US shows Samsung was right all along

    Apple being sued by the US shows Samsung was right all along

    The way Apple locks down its customers has long been heralded as the epitome of prudent business management. It was presented as the best way for companies that make mobile devices to ensure that their user base remained loyal, and companies that took a different route were almost looked down upon. Apple's infamous walled garden […]

    • By Adnan Farooqui
    • 3 days ago
    Samsung expects 2024 chip revenue returning to 2022 level

    Samsung expects 2024 chip revenue returning to 2022 level

    A significant decline in chip revenue has hurt Samsung's profits significantly, but the company is now expecting a return to form, on the back of increased demand for memory products for AI applications. The company is now expecting its chip revenue this year to return to the 2022 level, which was before the downturn, and […]

    • By Adnan Farooqui
    • 4 days ago
    NVIDIA CEO signs his approval on Samsung’s HBM3E memory, literally

    NVIDIA CEO signs his approval on Samsung’s HBM3E memory, literally

    Samsung's HBM3E 12H advanced memory chips have received high praise from NVIDIA CEO Jensen Huang recently. He confirmed that the company is testing these new memory models for integration into its GPUs, as unrelenting demand continues for its products. Such is the nature of the close collaboration between these two titans of the industry that […]

    • By Adnan Farooqui
    • 4 days ago