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GOQii top wearables vendor in India with 15% market share: IDC Q4 2016

Smartwatch maker GOQii has once again taken over Xiaomi as the biggest vendor in the Indian wearables market in terms of shipments, research firm IDC said in a report. During Q4 2016, GOQii took the lead with a 15.5% market share in terms of shipments, closely followed by Xiaomi with a 13.2% market share, while Fitbit accounted for 7.9% market share during the same quarter. In the first quarter of 2016 (Q1 2016), Xiaomi’s Mi band shipments helped it secure the top spot with 27% market share. In the next quarter (Q2 2016), GOQii surpassed Xiaomi to secure the first position (with 16% market share) after it made an aggressive entry into the fitness band category by launching GOQii band 2.0. Note that Xiaomi also launched an upgraded version of its Mi Band at around the same time that GOQii entered the market with its new product line. Overall, the Indian wearable market shipped 675,000 units during Q4 2016, down 19.6% QoQ from the previous quarter. During the entire year of 2016, the Indian wearable market shipped around 2.5 million units, according to IDC estimates. Shipments by category IDC also pointed out that overall shipments declined in Q4 2016 due to a drop in shipments in the basic wearable category, which accounts for over 86% of the Indian wmiearable market. Basic wearables include fitness trackers and other cheaper smartwatches that cannot run third-party apps. Smart wearables, on the other hand, posted a 23.6% growth in Q4 2016 as new vendors…

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