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The Silicon Review Asia

India has the second biggest smartwatch market in the world

India has the second biggest smartwatch market in the world

India and China accounted for 22% and 21% of the global market in the June quarter

India surpassed China to become the second biggest smartwatch market in the world for the first time in the June Quarter, according to a Counterpoint Research report. Smartwatch shipments in India grew 347% year-on-year during the quarter, while the global market grew at just 13% year-on-year, the UK-based market research firm said. North America, with 26% of shipments, remains the largest smartwatch market, even though its shipments fell by 4% year-on-year.

In comparison, India and China accounted for 22% and 21% of the global market in the June quarter. Shipments in China fell by 10%. India’s growth was driven mainly by shipments by homegrown brands Fire-Boltt and Noise, who made it to the list of global top five smartwatch brands for the first time. Noise registered a 298% YoY increase in shipments and did well in both online and offline markets. Despite this growth, Noise slipped down to the second position in India, while Fire-Boltt moved to the first place, according to Counterpoint.

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