Xiaomi Overtakes Apple and Fitbit, Leads Wearable Market

Prayank

Earlier this week, it was reported that Xiaomi has overtaken Apple in the sales of smartphones in China, while Huawei is the market leader and this week another report has surfaced which states that the Chinese company’s wearable sales have sailed ahead of Apple and Fitbit.

According to a research by Strategy Analytics, the demand for fitness bands as well as smartwatches has risen at 8 percent annually as compared to the second quarter of 2016 which saw over 20 million sales globally.

22 million units of wearables were shipped in the second quarter of 2017 and Xiaomi’s market share in those shipments was at an all time high at 17 percent.

“Xiaomi captured 17 per cent global market share and overtook Fitbit and Apple to become the world’s largest wearables vendor. Fitbit is at risk of being trapped in a pincer movement between the low-end fitness bands sold by Xiaomi and the fitness-led, high-end smartwatches sold by Apple,” said Neil Mawston, Executive Director at Strategy Analytics.

Although Xiaomi is better known for its smartphones, there is an array of other electronic products including speakers, smart TV unit, earphones and much more that they offer too.

Most of these products are exclusively being sold in the Chinese market currently and the company might release them globally soon.

Fitbit’s market share declined from 29 percent last year to 16 percent this year as the company shipped over 3.4 million units.

“Apple shipped 2.8 million wearables worldwide in Q2 2017, growing 56 per cent annually from 1.8 million in Q2 2016. Apple has for now lost its wearables leadership to Xiaomi, due to a lack of presence in the sizeable fitness band sub-category,” Cliff Raskind, Director at Strategy Analytics, said.

Apple has mainly suffered due to the lack of fitness band, which has gained more popularity among the masses as opposed to smart watches.

Apple is reportedly working on the Watch Series 3 which will also be equipped to double up as a fitness tracker. This watch could enable the growth of Apple.

The main reason Xiaomi has overtaken its competitors in the wearable market because their products are cheaper and as efficient.

(With inputs from IANS)

Also See
#smartwatch #wearable

Join the newsletter

Prayank

Written By

Prayank

Bike enthusiast, traveller, ManUtd follower, army brat, word-smith; Delhi University, Asian College of Journalism, Cardiff University alumnus; a journalist breathing tech these days.