Xiaomi Beats Fitbit, Apple In The Global Wearable Market
While there is a lot of debate going on to ascertain whether the wearables market is worth investing in or not and if these devices have begun to lose steam, Xiaomi is making steady progress in this area. According to the latest research from Strategy Analytics, global wearables shipments reached 22 million units in the second quarter of 2017. Xiaomi captured 17 percent marketshare and became the world’s largest wearables vendor for the first time ever, overtaking Fitbit and Apple.
Steven Waltzer, Industry Analyst at Strategy Analytics, said, “Global wearables shipments reached 21.6 million units in Q2 2017, rising 8 percent annually from 20.0 million in Q2 2016. Strong demand for low-cost fitnessbands in China and premium smartwatches across the United States drove the uptick.”
Neil Mawston, Executive Director at Strategy Analytics, said, “Xiaomi shipped 3.7 million wearables worldwide in Q2 2017, rising 23 percent annually from 3.0 million units in Q2 2016. Xiaomi captured 17 percent global marketshare and overtook Fitbit and Apple to become the world’s largest wearables vendor. Xiaomi’s Mi Band fitness trackers are wildly popular in China, due to their highly competitive pricing and rich features such as heart-rate monitors, step-counters and calendar alerts. Fitbit shipped 3.4 million wearables for 16 percent marketshare worldwide in Q2 2017, almost halving from 29 percent a year ago. Fitbit is at risk of being trapped in a pincer movement between the low-end fitnessbands sold by Xiaomi and the fitness-led, high-end smartwatches sold by Apple.”
Cliff Raskind, Director at Strategy Analytics, said, “Apple shipped 2.8 million wearables worldwide in Q2 2017, growing 56 percent 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 fitnessband subcategory. However, the rumored upcoming Watch Series 3 launch with enhanced health tracking could prove to be a popular smartwatch model and enable Apple to reclaim the top wearables spot later this year.”
Global Wearables Vendor Shipments and Marketshare in Q2 2017
|Global Wearables Vendor Shipments (Milions of Units)||Q2 ‘16||Q2 ‘17|
|Global Wearables Vendor Marketshare %||Q2 ‘16||Q2 ‘17|
|Total Growth YoY (%)||21.2%||8.0%|
Source: Strategy Analytics
Xiaomi has had a resurgent this year after a two years of struggle, to maintain growth and missed sales targets. A push into offline retail in China and progress in India, where the company cracked $1 billion in revenue last year, have contributed to a more optimistic outlook this year,.
Another report by the on the global smartphone shipments and Xiaomi, for the first time in a year, has made it to the first five spots. Xiaomi’s phone sales were up 70 percent quarter-on-quarter in Q2 with 23 million sold in Q2. Now it is pushing on with its offline retail strategy and furthering its global expansion plans in the next 1-2 years.
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