Homegrown tech start-up Fire-Boltt claim's No. 1 spot in the Indian wearable watches market in Q1 2022
Fire-Boltt has captured a market share of 24.6 and aims to maintain its dominance with bullish plans for India Has registered a stupendous growth of over 2,000 year-on-year YoY Breaks the norm by growing 47.5 quarter-on-quarter while the overall industry has de-grown by 25 approx.NEW DELHI, June 15, 2022 PRNewswire -- Homegrown wearable and audio brand, Fire-Boltt has for the first time surpassed the front-runners by being adjudged as the undisputed leader in the wearable watches market according to the latest International Data Corporation IDC report.
• Fire-Boltt has captured a market share of 24.6% and aims to maintain its dominance with bullish plans for India • Has registered a stupendous growth of over 2,000% year-on-year (YoY) • Breaks the norm by growing 47.5% quarter-on-quarter while the overall industry has de-grown by 25% approx.
NEW DELHI, June 15, 2022 /PRNewswire/ -- Homegrown wearable and audio brand, Fire-Boltt has for the first time surpassed the front-runners by being adjudged as the undisputed leader in the wearable watches market according to the latest International Data Corporation (IDC) report. The brand has claimed the number 1 spot and captured a market share of 24.6%, and registered a 2,000% YoY growth despite the industry growing at a stagnant pace. Fire-Boltt further grew by 47.5% quarter-on-quarter and sold a total of 916,765 units in comparison to 628,789 units while the overall industry de-grew by 25% approx.
Fire-Boltt has claimed this formidable spot within 15 months in the market and today is the biggest name in the wearable watches category. The homegrown brand has carved a niche for itself in the country by developing strong in-house capabilities, innovative product offerings, technology superiority, and effective alliances including online e-commerce partners, retailers and distributors across the country. Fire-Boltt is exclusively distributed in India by Savex Technologies, India's third largest technology distributor. Fire-Boltt started its journey in the year 2015 and was one of the first brands to revolutionize the Indian market with the best-in-class products developed with the latest technology. Led by a young team of co-founders, the brand has positioned itself as youth-oriented and established a strong resonance with its target audience. Commenting on this achievement, Arnav Kishore, Founder & CEO at Fire-Boltt, asserted, ''At Fire-Boltt, our mission is not just to do business but own the space of wearables segment not only in India but across the globe. We are extremely proud & excited to achieve this milestone and our diverse product portfolio with value for money offerings has been a key catalyst for this growth. This is also a reflection of immense love & trust from our consumers and we are glad that we have become the leading brand in the market in terms of innovation and technology. With sheer determination and commitment towards offering the best of technology, we look forward to achieving bigger milestones in the near future.'' Adding to the excitement, Ayushi Kishore, Co-Founder, Fire-Boltt, said, ''It is truly a humble moment for all of us here at Fire-Boltt as we have been able to achieve this milestone within such a short span of time and in a very competitive market. Our team's relentless persuasion and the intuitive quality to remain agile have laid the foundation of our phenomenal growth that is akin to this win. We aim to continue the winning streak and this is a step ahead for us to continue to expand and innovate a strong product line-up, celebrity endorsements with a focus on aggressive marketing.'' Customers can easily access Fire-Boltt's products from different parts of the country. The brand has a strong presence across leading online channels including Amazon, Flipkart, Myntra, Tata CLiQ, Nykaa and Paytm, and has an offline presence in more than 750+ cities through modern trade outlets, all national and regional LFR's including Croma, Reliance and Vijay Sales, and all large regional retailers including Poorika, Sangeetha etc. The brand has presence through its own e-commerce website and aims to scale up contribution to the overall sales in the near future.
Fire-Boltt has recently launched over 30 smartwatches in the past 6 months and has also announced its expansion plans to newer markets beyond India, including the Middle East and Europe post receiving a phenomenal response on the entire product line-up from the UAE market.
About Fire-Boltt: Fire-Boltt began operations in 2015, with an ambition to provide the masses with remarkable range of best-in-class wearables and hearables that are not only affordable but are also equipped with innovative industry first features including Spo2, Bluetooth Calling, In-built games, Meditative Breathing, Biggest screen size to name a few. Smart products equipped with the latest technology and made with obsessive attention to detail make Fire-Boltt the right brand for one's music and fitness needs. Based out of Noida, the company continues to innovate & collaborate with industry pioneers to develop superior quality products and satiate the growing demand for smart-tech-wearables in the country and the world.
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