India leads global smartwatch sales
While global smartwatch sales fell 1.5 percent (year-on-year) in the first quarter of this year, sales in India grew 121 percent, according to reports. India has overtaken North America in terms of regional markets, according to Counterpoint Research. Anshika Jain, Senior Analyst, Counterpoint Research, said that India is leading the global smartwatch market with a 27 percent share.
Global sales fell by 8 percent in the fourth quarter of last year due to reduced demand for products from companies such as Apple and Samsung due to the global financial crisis. According to Counterpoint Research, Fire-Bolt has overtaken Samsung for the second position in the global smartwatch market for the first time.
The market share of basic smartwatches (which can be bought at low prices) increased from 23 percent to 34 percent. The data also says that this is behind the growth in the Indian market. Apple's Watch sales fell 20 percent in the first quarter. This is the first time in three years that first-quarter sales have fallen below 10 million units.
Sales of Indian brand Fire-Bolt nearly tripled year-on-year and grew by 57 percent over the previous quarter. Products from other local brands like Noise and Bot are also in demand. Meanwhile, Huawei recorded a 14 percent drop in shipments to the Chinese market. China is the main market of Huawei company.