GARMIN WITNESSING 100 PERCENT GROWTH IN WEARABLES BUSINESS IN INDIA
Tech major Garmin Wednesday said it has been witnessing almost 100 percent growth in its wearables business in India and will focus on setting up more experience zones to further ramp up business in the country. Garmin, which is known for its range of global positioning system (GPS) solutions, also launched its new GPS-enabled smartwatch ‘Instinct’ priced at Rs 26,990.
“Over the years, we have seen an increase in people adopting more preventive measures to protect their health and that trend is reflected in uptake of wearables as well… we have seen an almost 100 percent growth in our volumes in the last one year,” Garmin India National Sales Manager Ali Rizvi said. He added that the company has set up a store in Delhi-NCR for people to experience its products and plans to set up 5-6 more such outlets next year in major Indian cities.
Garmin offers smart wearables across price points and has dedicated devices for activities like golf and cycling. Talking about the product, Rizvi said Instinct supports multiple global navigation satellite systems (GPS, GLONASS and Galileo) and offers wrist-based heart rate monitor. It is built on US military standard 810G for thermal, shock and water resistance. “India is a very important market for Garmin and holds a great potential for the lifestyle segment. While we have products in other series, Instinct is our lifestyle watch for users looking for a smartwatch that is rugged and reliable,” he said.
According to research firm IDC, the wearables market in India saw shipment of 1.02 lakh units in the September 2018 quarter, growing at 17 percent year-on-year. The overall wearable market — which is currently dominated by affordable devices — is expected to continue its double-digit growth in 2019.
The pace of growth, IDC said, is expected to continue over the next few years as vendors explore new categories to provide solutions around healthcare and lifestyle management. Xiaomi led the wearables segment in India with 41.2 percent share in the July-September 2018 quarter, followed by GOQii (18.6 percent), Titan (14 percent), Samsung (4.5 percent), and Fossil (3 percent).