Fitbit has formally entered the
Indian Market by launching its complete range of fitness bands both online and
offline and is aiming to become the No. 1 player in local market in the near
future. The company expects India to be among its top 5 markets in next couple
of years. The Indian market is currently led by Chinese company Xiaomi with its
Mi Band.
Founded by James Park and Eric
Friedman in 2007, San Francisco based Fitbit claims to lead the US Fitness
tracker market with an 85 percent share as of March 2015, up from 67 percent a
year earlier. Its revenue more than tripled from a year earlier in the quarter
through March 2015. Fitbit product can be synchronized with more than 200
smartphones running on iOS, Android and Windows operating systems, as well as
Apple Mac OS.
In India, the market of wearable is
embryonic, selling a handful of products like smart watches and fitness brands launched
by handset makers such as Samsung, Sony, Motorola, and Alcatel One touch. The fitness
band segment has lately seen some action with players like Xiaomi, Micromax,
Goqii making their products available at competitive price points. Fitbit too
soft launched its bands in June, offering them on Amazon India.
The company will now offer its
products through partnerships with Reliance Digital, Croma and Helios, which
sell Fitbit seven products. There are several cheaper products available in
Indian Market from rival companies. Sales of wearable devices such as smart
watches and fitness bands in India totaled one lakh units in 2014 and are
expected to grow to a million in 2015. Indian market reached three lakh units
by the end of the second quarter of 2015.
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