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Wearables

400,000 Units of Wearables Sold in India in Jan-March 2016: IDC

he Indian wearable market is quite huge. How big, you ask? Well, the market sold over 400,000 units in the first quarter of 2016. Quite impressive, we must say.

According to a recent report by International Data Corporation (IDC), a United States-based market research and analysis firm, fitness bands with a sale percentage of 87.7% was leading the sales of wearables in the Indian market, whereas other smart wearables such as the smartwatches accounted for the rest 12.3%. But, according to Swapnil Bhatnagar, IDC India's Research Director, the sale of smartwatches could see a massive push as a lot of very affordable smartwatches are expected to hit the markets in the second half of this year.

Even though smart wearables accounted for just a sad 12.3 percentage of the total wearables sales, but the future would see a higher growth rate in the sector when compared to the basic devices. While Samsung stood at the numero uno position, Motorola and Apple grabbed the second and third position respectively. A majority of vendors went for the online channel for the sales, but recent customers behaviours have shown an inclination towards retail so as to see and test the product themselves before making the final purchase.

The report by IDC also revealed that Fitbit and Apple were the only two brands in the market that very available at most of the offline stores; while the other brands had a very bleak presence or none at all.

According to the report Xiaomi's Mi Band was the biggest seller. Mi Band's success is also indicative of the fact that fitness bands are the Indian consumer's gateway to the wearable space. In fact, 87.7 percent of the wearables sold in India were fitness bands, and Xiaomi cornered 27.1 percent of that market.

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The second and third spots were also taken by the fitness band companies. The Indian company, GoQii, secured the second spot with an 18.1 percent market share. The third spot went to the world leader in wearables, FitBit, with a 6.1 percent market share. FitBit is launching more wearables in India, offering solid competition to Mi Band and other basic fitness band makers.

Wearables is still a concept that a majority of the Indian population is still warming up to. According to the report, the penetration of wearables is still very low, but vendors are doing their best to warm up to the customers by continuous development and innovation.

The promising increase in volume provides vendors the scope to provide customers with products with better features such as NFC and display. In fact, both Xiaomi's soon-to-be-in market Mi Band 2 and Intex's recent unveil Fitrist are devices with displays at very affordable prices.

[Top Image - Shutterstock]

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