The newly-launched Mi band 3 became the most shipped wearable product ever in the history of wearables in India, IDC report said. Xiaomi leads the smart wearables market in India with a 41% share, followed by GOQii, Titan, Samsung and Fossil.
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Mi Band 3 comes with a touch-enabled 0.78-inch OLED screen,
which is about 85% larger than the Mi Band 2’s, and has a resolution of 128x80.
It allows you to receive notifications and read WhatsApp messages on the
screen.
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New Delhi: With a 41% market share
in the smart wearables device market, Chinese electronics company Xiaomi
dominates the segment in India, according to a market report by International
Data Corporation (IDC). Xiaomi’s Mi band 3 fitness tracker, which was launched
in India at the end of September, has quickly become India’s largest selling
smart wearable product, the report said.
“The newly launched Mi band 3 became the most
shipped wearable product ever in the history of wearables in India,” the IDC
report said. In the third quarter of 2018, Xiaomi maintained its leadership
in the market for the 5th consecutive quarter with a 41% market share.
“Although their shipments witnessed a decline
of 20% quarter-over-quarter, but it saw a healthy growth of 77% in this quarter
when compared to the same time a year ago,” it said.
IDC’s ‘Quarterly Wearables Device Tracker’
saw two successive quarters of double-digit growth and shipped 102,000 units in
the quarter, making it the first quarter to cross the 100,000 units shipment
mark in the country.
In the list of top five wearable
companies, GOQii holds
the second position with 19% market share and remains the leading player in the
commercial segment, as two-thirds of its shipments are billed to enterprises
under the corporate wellness program.
Fastrack’s Reflex 2.0 helped
maintain Titan retain the third spot in the wearables market.
Samsung returned to among the top
five wearable companies in India by replacing Fitbit. Samsung bundled
Gear Sport and Galaxy Watch with the launch of Samsung Note 9, and later,
offered them at a discounted price which helped the brand to acquire a strong
momentum in this quarter.
Fossil was able to capture the fifth position
in the quarter with the help of Q Explorist Gen 3.
The overall India wearables market saw a 17%
year-over-year (YoY) growth in the third quarter of the year as vendors shipped
a total of 897,000 units in the country, the report said. However, the overall
shipments declined 11% from the previous quarter largely because of the
double-digit decline in the basic wearables.
“It is too early to say that the India
wearables market has started moving towards the smart wearables. However,
vendors have started analyzing the big pricing gaps between the basic and smart
wearables,” said Jaipal Singh, Associate Research Manager, Client Devices , IDC
India.
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