Xiaomi Leads India Wearables Market in Q3 2018
Global imports of wearable devices attained 32 million units in the next quarter of 2018 — up 21.7 percent in the preceding year, according to IDC’s”Worldwide Quarterly Wearable Device Tracker”.
Though China accounts for well over 80% of the shipment quantity of Xiaomi, that share fell to 61% as the company was able to increase its presence in markets like Europe, India, Middle East, and Africa.
Xiaomi sent 6.9 million wearables as compared to 4.2 million by Apple. Fitbit at third position shipped 3.5 million wearables.
The overall wearables imports dropped 11 percent from the previous quarter largely because of the double-digit decrease from the basic wearables, showed statistics from IDC’s”Quarterly Wearables Tracker”.
“It’s too premature to say that the India wearables marketplace has started moving towards the wise wearables,” explained Jaipal Singh, Associate Research Manager, Client Devices, IDC India.
“However, vendors have begun assessing the huge pricing gaps between the fundamental and smart wearables,” Singh explained.
The entire India wearables market saw a 17 percent year-over-year (YoY) growth in the third quarter of the year as vendors shipped a total of 897,000 units from the nation, the report said.
The smart wearables, generally described as wearables which may run third-party applications on its own, saw two successive quarters of double-digit growth and sent 102,000 units in Q3 2018, which makes it the first quarter to cross the 100,000 units dispatch mark in the nation, the report said.
“While vendors need to recognize a new pricing sweet spot for smartwatches, the next challenge is to address the positioning of watches which is still regarded as a vanity product in India,” Singh explained.
“Also, many vendors haven’t researched the kid segment which may be a volume driver for this category as they are more comfortable with technology and new goods,” he added.