Indian wearable brand Noise breaks into top 10 global smartwatch sellers
Amit Khatri and Gaurav Khatri foundedin 2014 as a tech accessory company, selling products such as smartphone covers. In 2016, they tried their hand at building their own products with Bluetooth earphones called the Noise SHOTS. Today, they stand as the 10th biggest smartwatch seller by market share in the world.
According to a report by Counterpoint on the smartwatch market in 2021, Noise took Fossil's place in the top 10 list, with 2.6 percent of the global market share. This is a huge number since Samsung and Huawei — numbers 2 and 3 on the list — have 10.2 percent and 7.7 percent of the market each.
As innovators of the smartwatch industry, Apple remains by far, the biggest player with 30.1 percent of the market, although this has fallen since the year before.
The Indian market proved to be the biggest catalyst to the growth of the entire industry in 2021. While the global market grew a healthy 24 percent year-on-year, the Indian market grew by an incredible 274 percent.
In fact, India's entire slice of the global smartwatch market grew from just 3 percent in 2020 to 10 percent in 2021, while China's share fell from 27 percent to 24 percent and North America's share fell from 33 percent to 30 percent.
However, Noise's popularity can't just be attributed to the growth of their home market. Its sales growth outstripped every other company in the top 10, and helped them maintain their number one position in India.
Counterpoint analyst Anshika Jain said, “Noise is the number 1 Indian smartwatch brand and leads the growth of the local market. It captured the top position in 2021 due to its diverse product portfolio targeting the budget and mid segments, as well as strong partnerships with ecommerce players, financial institutions and celebrities."
Edited by Saheli Sen Gupta