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Garmin views India among the top 3 Asian markets

  • India Infoline News Service |
  • 03 Nov, 2022 |
  • 8:49 AM

The post-Covid health activity patterns in the country are expected to help India become one of the top three markets for Swiss smart wearable gadget maker Garmin in the next five years.

Garmin, which announced Yeshudas Pillai's appointment as the new national head for its operations in India, has been observing double-digit growth in the nation and anticipates the trend to persist.

By the end of 2023, it hopes to add 10 additional brand stores to its growing network of retail sales locations. Currently, the company only operates three outlets in India.

According to Sky Chen, regional director for Garmin South-East Asia & India, after the pandemic, people have become much more health-conscious and there has been a rapid rise in activity trends, which fits nicely with Garmin's product range.

India is currently placed fifth in the world in terms of revenue, with China, Japan, and Thailand being its three biggest markets.

The firm is "bullish" on the premium smartwatch market for devices costing more than $300 USD (about Rs25,000), and it intends to increase its product offerings with the goal of dominating the market, he continued.

The first half of 2022 saw shipments of 38 million wearables in India, up 65.8% year over year, according to the most recent market data from International Data Corporation (IDC).

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