According to the latest report from International Data Corporation (IDC), the wearables market in India has witnessed a growth in the second quarter of 2018 (2018Q2) as the overall wearables market grew 66% year-over-year (YOY) and 40% sequentially, making it the biggest quarter for the wearables category in India.
The report also mentioned that one million units of wearables were shipped in 2018 Q2 with top three brands retaining their position in the overall wearables market.
Apart from wristbands, which accounted for almost 90% of the shipments during the quarter, watches with wearable computing also grew 34% sequentially.
Mi fans! We continue to be the #1 in wearables brand in India. ~2.5X bigger than the No. 2! As per @IDC‘s report, we now have 45.8% market share and 31% quarter-over-quarter (QoQ) growth in Q2 2018. pic.twitter.com/LP5MIHtK3H
— Mi India (@XiaomiIndia) August 31, 2018
Talking about the companies, Xiaomi maintained its leadership of the market with 45.8% market share and 31% quarter-over-quarter (QoQ) growth in the 2018 Q2. GOQii remained at 2nd position with healthy 74% annual growth and 36% sequential growth in its shipment.
The third place goes to Titan with its Fastrack’s Reflex range saw a healthy 56% sequential increase in its overall shipments and maintained its position. Moreover, the Fitbit replaced Fossil as the 4th largest wearables company as its shipments got quadrupled in Q2 2018. Lenovo was able to secure a position in the top five after three quarters.