Arnav Kishore Co-Founder, Fire Boltt
We have had an excellent year as we became the No 1 smartwatch brand in India in two quarters- Q1 and Q2 according to a report by Counterpoint. We also became the 4th largest smartwatch brand globally. We are right behind industry giants like Apple, Samsung, and Huawei. It is not only a proud moment for us as a brand but also a proud moment for the country. This has happened for the first time in history that a homegrown brand in the category of smartwatches has made its mark in the global market.
Today, we have approx.30% market share in the category and are targeting to take 50% of the market share in the near future. We are aggressively focusing on the marketing campaigns in order to increase brand loyalty. In terms of revenue, we clocked around 500 crores last year (fiscal year). Till September 2022, we have clocked around INR 1200 crores and expecting to reach approximately INR 2400 crores by the end of this financial year. Our smartwatches- Visionary and Ninja 3 did extremely well and were humongously popular amongst the users. Our innovative technology and stylish timepieces are the key drivers for this success.
2022 saw a popularity of budget friendly, stylish smartwatches with upgraded health suites and innovative features like sports modes, bigger screen sizes and full touch control along with Bluetooth calling. The year buzzed with new innovations in the field of AI, and a new world has opened up in the form of Metaverse. I feel Sustainable Technology, where we are not impacting the environment during the production stage will be the next requirement. Such technology will ensure there is ample work being done to ensure we move towards zero wastage, and minimal carbon footprints. And these trends cater to the needs of the consumer who needs upgraded technology and is also conscious about our environment. When such consumers realize that their buying decisions can make even a small impact, they will move towards that.
