According to a new survey, India's wristwatch industry expanded 312% year on year in the June quarter, and domestic startup Fire-Boltt dominated the market for the first time with a 28% share. According to Counterpoint Research, Noise was second with a 26% share (best-selling brand in online channels), while boAt, together with its sub-brands, was third with a 19% share. Online channels accounted for 67% of overall shipment volume, with Amazon leading the way.

This quarter, the country sold over 300 smartwatch models, the greatest number ever. The top three brands supplied a total of 75 different models. Over 50 new product launches from prominent brands occurred during the third quarter. According to research analyst Harshit Rastogi, low-end smartwatches continue to attract increasing competition, with half of all devices priced under Rs. 3,500 (US$ 44).

News courtesy to ibef.org.