Global smartwatch shipments declined by 1.5 per cent during the first quarter of 2023, with Apple, Samsung, and Huawei all seeing shipment volumes drop.

Samsung suffered a 15 per cent decline in smartwatch shipments compared to the same quarter in 2022.

The rise of entry-level smartwatches in India has shaken up the landscape, with Indian brand Fire-Boltt overtaking Samsung for second place after snapping up 9 per cent of the market. The Indian market has more than doubled since the same period in 2022.

As Counterpoint Research report, 40 per cent of all shipwatches shipped in India during the three months retail for less than A$40. Globally, these cheap watches, ones without a dedicated OS, make up 34 per cent of global shipments for the quarter.

Apple kept its crown, commanding 26 per cent of the market.