Low-cost fitness trackers driving India's wearable market; Goqii, Xiaomi dominate

 Nidhi Singal   New Delhi     Last Updated: March 29, 2017  | 14:21 IST
Low-cost fitness trackers driving India's wearable market; Goqii, Xiaomi dominate

The wearable market in India saw a shipment of 2.5 million devices in 2016, per the latest numbers revealed by the International Data Corporation (IDC).
 
According to IDC Worldwide Quarterly Wearable Device Tracker, 6,57,000 wearable devices were shipped to the country in the fourth quarter of 2016. These included smart wearables, which can run on third-party apps, and basic wearables, which cannot. The report also stated that wearable shipments declined 19.6 per cent sequentially as basic wearables, which accounted for 86.4 per cent of the market, declined 23.9 per cent during the quarter. In terms of pricing, the below-$50 segment continued to dominate, accounting for 73 per cent of the total wearable shipments during the period. The report also stated that fitness trackers/wearables from Goqii and Xiaomi dominated the entry-level segment while shipments from Intex shrank during the quarter.
 
Goqii was leading with 15.5 per cent market share, followed by Xiaomi at 13.2 per cent and FitBit with 7.9 per cent for the quarter.
 
"Shipments declined in the last quarter of the year after a sharp spike in Q3 owing to channel preparation for festive season in October. However, smart wearable shipments grew 23.6 per cent in Q4 of CY 2016 as new vendors like Fossil's made their entry into the Indian wearable market and fresh shipments of new models from vendors like Apple and Samsung fuelled the growth," says Navkendar Singh, Senior Research Manager of IDC India.

 

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