Xiaomi Conquers Indian Wearables Market With 46% Share: IDC

Xiaomi has now become the leading wearable brand in India with a share of 46%, according to IDC. A report revealed by IDC today revealed that Xiaomi led the Indian wearables market with a 46% share and 31% quarter-over-quarter (QoQ) growth. The company’s shipments crossed the one million mark in the second quarter of 2018, said IDC. The Indian wearables market witnessed an impressive growth of 66% year-over-year (YOY), making it the biggest quarter for the wearables category in the country. Xiaomi was closely followed by GOQii.

xiaomi-indian-wearable-market

GOQii was second with a 74% annual growth in shipments. Titan with its Fastrack’s Reflex range saw a 56% sequential increase in its overall shipments and maintained its third position. However, Titan’s shipments saw a 45% decline in its annual growth as it channelised its inventory before launching new devices in the market.

“After a relatively slow 2017, the market looks like finding its footing in 2018. Companies have increased their marketing spend, exploring alternate channels to sell their devices, and updating their platforms to increase the gamification and maximize the user engagement,” said Jaipal Singh, Associate Research Manager, Client Devices, IDC India.

Xiaomi’s share, however, reduced marginally from the previous quarter. The brand has now diversified into retail channel by selling its devices from its preferred partner stores, selective large format retail stores, and its exclusive retail stores in the country, said IDC.

Wristbands accounted for almost 90% of the shipments during the quarter as watches with wearable computing also grew 34% sequentially on the back of new launches and affordable finance schemes. Fitbit replaced Fossil as the fourth largest wearables company as its shipments got quadrupled as compared to the previous quarter. Lenovo was able to secure the fifth position after three quarters.

Reported By

Leave a Reply

1 Comment on "Xiaomi Conquers Indian Wearables Market With 46% Share: IDC"

 

Sort by:   newest | oldest
Chinmoy
August 30, 2018 7:49 pm 7:49 PM

Quite happy with MI Band 2. Why should one spend thousands in buying Fitbit or any other damn costly stuff when MI Band is aweosme.

wpDiscuz