Wednesday, May 31
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Andy Walker / Android Authority


  • Smartwatch sales in Q1 2023 plunged compared to Q1 2022.
  • Analysts suspect the recession may be the cause.
  • The fall resulted in a change of top players, with Fire-Bolt now ranked second in the global rankings.

In the year At the beginning of 2022, there were three major players in the global smartwatch market: Apple, Samsung, and Huawei. Apple was the clear leader, holding a strong 32% of the market with its Apple Watch line. Thanks to its line of Galaxy Watches, Samsung was trying its best to come second with a 10% share.

Clearly, with HUAWEI’s position in the consumer market eroding, there is bound to be a shift. However, smartwatch sales have taken a significant dive year-over-year, according to Counterpoint Research. This not only pushed Huawei into the “others” category, but also saw Samsung and Apple lose market share to a new-ish player: the Fire-Bolt.

Check out the charts below to see how things look when comparing Q1 2023 to Q1 2022:

Smart watch sales 2023 Q1 vs 2022 Q1

Smartwatch sales: Who is Fire-Bolt?

If you don’t live in India, you might not have heard of Firebolt. It is the largest smartwatch brand in India, according to Counterpoint, and the fastest growing smartwatch brand globally. It offers a variety of smartwatches (mostly Apple Watch-like) at very affordable prices. It also offers a unique points system that allows you to earn “coins” that can be used for other products and experiences.

If Fire-Bolt is growing so fast, why did Samsung and Apple lose market share? Thanks to the global recession, smartwatch sales are down for the two, at least according to Counterpoint. Apple’s significant loss of 6 percent of its market share is a major blow to the rankings. Hopefully, this year’s new Apple Watch will bring the heat. Samsung’s new Galaxy Watch 6 – and the rumored return of the “classic” variant – will hopefully change its prospects as well.


Robert is an expert in Android mobile phones. He has been using Android phones since they first came out, and he has been following the development of the platform closely. He has written many articles and tutorials on Android phones, and he is always up-to-date on the latest news and developments in the world of Android.