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noise: Noise leads smartwatch market in India, co-founder says ” humbled and ecstatic” – Occasions of India

India’s smartwatch market continues its dream run. The market grew 173% YoY in Q1 2022 (January-March), in accordance with the newest analysis from Counterpoint’s IoT Service. The expansion is attributed to rising shopper curiosity, a number of launches in the course of the quarter and the provision of assorted low cost affords and promotions. Indian model Noise led the market with a 23% market share. The corporate’s shipments doubled YoY in the course of the first quarter of 2022 because of the good efficiency of its newly launched gadgets. The Colorfit Pulse turned the best-selling mannequin for the model.
Commenting on the sturdy efficiency Gaurav Khatri, co-founder, Noise, mentioned, “One other quarter and one other pole place, we’re humbled and ecstatic every time we come out on the highest and to handle to do it eight instances in a row is an undisputed validation that Noise is firmly on the trail to placing Indian manufacturers on the map. It is a results of timeless love of our group of noisemakers and the workforce tirelessly working to ship unparalleled product and expertise to our clients.”
Reasonably priced smartwatches proceed to dominate
The gross sales of reasonably priced smartwatches reached an all-time excessive in the course of the quarter. The Rs 1,000-Rs 2,000 ($13-$27) retail worth band reached its highest-ever share of 14% within the first three months of the yr 2022. “The contribution of the <Rs 5,000 ($67) retail worth band elevated to 87% from 78% in Q1 2021. The Rs 1,000-Rs 2,000 ($13-$27) retail worth band reached its highest ever share of 14% from simply 2% a yr in the past. Many manufacturers have began to give attention to this low worth tier to draw first-time customers and purchase the sensible band consumer base. Client consciousness has additionally elevated on this phase as a consequence of manufacturers’ steady efforts on advertising and promotions by on-line and offline channels,” mentioned senior analysis analyst Anshika Jain.
“The highest three manufacturers captured 60% share in Q1 2022. Noise led the general smartwatch market pushed by its value-for-money choices, the addition of related options to its product portfolio and emphasis on the Make-in-India scheme. Fireplace-Boltt emerged because the second-largest participant for the primary time as a consequence of its give attention to affordability and the introduction of feature-packed merchandise. Fireplace-Boltt has an excellent offline presence and targets a number of smartwatch segments like vogue, life-style, health and luxurious. boAt captured the third spot. It additionally refreshed its portfolio in Q1 2022 with 5 new fashions,” added Jain.
The phase additionally noticed the entry of greater than 10 manufacturers in Q1 2022, together with Defy, Fastrack, Truke and Reebok.

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