New Delhi, Apr 11 (PTI) Swiss tech major Garmin recorded a double-digit growth in revenues from India in 2021, helped by rising sales of wearables.
The company did not share the exact numbers.
The business growth last year was backed by its fitness and wellness segment, according to a statement from Garmin India, a unit of Garmin Ltd.
“Fitness & Wellness are one of the most popular segments of Garmin in India. As people are becoming more health-conscious, especially after the impact of COVID-19, the Garmin VENU smartwatch series grew by 124 per cent in 2021 compared to 2020 as per Garmin Connect Data in India,” it added.
Garmin India’s GPS adult watch category recorded a growth of 131 per cent in units in 2021, the statement said quoting IDC Worldwide Quarterly Wearable Device Tracker Q4, 2021 data.
“Also, since the outdoor cycling trend is growing in India, Garmin’s EDGE series has become popular among cyclists and grew by 86 per cent in 2021 as per Garmin Connect Data,” it added.
Garmin recorded a consolidated global revenue of USD 4.98 billion in 2021, an increase of 19 per cent compared to the year-ago period.
According to an IDC report, the Indian wristwear market, inclusive of wrist bands and watches, grew 141.3 per cent year-on-year in 2021, witnessing 14.4 million shipments. PTI KRH AJ AJ
