Garmin bullish on Indian luxury wearable market

NEW DELHI: Bullish on the Indian luxury smart watches market, US-based wearable major Garmin is set to introduce its super premium ‘MARQ’ line-up of smartwatches in the third quarter of 2019.
Smart watches grew 54.3 per cent and accounted for 29.8 per cent of all wearable device shipments in 2018, says a recent report by the International Data Corporation (IDC).
In the fourth quarter of 2018, the worldwide market for wearable devices grew 31.4 per cent, reaching a new high of 59.3 million units.
New products from players like Garmin, Fitbit and Huawei helped the basic wearables category return to growth during the third quarter of 2018.
“Garmin will soon come up with a new product called “MARQ” which is in the ultra-premium category. The price range of these will be close to Rs 2 lakh. After witnessing our growth last year, we see that India has a great potential in all price categories,” Ali Rizvi, National Sales Manager-Garmin India, told IANS.
The Kansas-headquartered company, which also produces consumer, professional aviation and marine devices that make use of the Global Positioning System (GPS) for navigational assistance, would unveil five watch variants in the luxury segment.