Xiaomi leads wearables market in India with 45.8% market share as shipments cross 1 million in Q2 2018: IDC

GOQii was second with a 74 percent annual growth in shipments.

  • Published: September 2, 2018 3:14 PM IST
xiaomi mi band 3

Xiaomi becomes the leading wearables maker in India in the second quarter of 2018, according to latest IDC data. The Chinese company led the Indian market with a 45.8 percent share and 31 percent quarter-over-quarter (QoQ) growth as shipments crossed the one million mark in the second quarter of 2018, International Data Corporation (IDC) said on Thursday.

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.

GOQii was second with a 74 percent annual growth in shipments with 18.8 percent share. Titan with its Fastrack’s Reflex range saw a 56 percent sequential increase in its overall shipments and maintained its third position. However, Titan’s shipments saw a 45 percent decline in its annual growth as it channelized its inventory before launching new devices in the market.

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.

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“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.

The Indian wearables market witnessed an impressive growth of 66 percent year-over-year (YOY) making it the biggest quarter for the wearables category in the country. Wristbands accounted for almost 90 percent of the shipments during the quarter as watches with wearable computing also grew 34 percent sequentially on the back of new launches and affordable finance schemes.

With inputs from IANS

  • Published Date: September 2, 2018 3:14 PM IST