With the continuous implementation of the Ubiquitous Power Internet of Things (UPIoT) concept in power grid construction, the smart IoT terminal intelligent sensing device represented by smart meter is facing with more and more new requirements. Therefore, the smart meter conforming to the IR46 international standard is taken as an example, whose design and testing has received wide attention. The design process of smart meter needs to use hardware test technology to improve design and quality verification. This paper takes the hardware test process of IR46 meter as an example, combining with the characteristics of the IR46 meter, summarizes the hardware test process of similar products. By discussing the hardware testing technology of the new generation of smart meters, the necessary research has been done for the promotion of the ubiquitous power IoT. This work is supported by Science and Technology Project of State Grid Corporation of China (No. 5229DK18003G).