This Chinese tech firm is on fire, for sure. While it is known that Xiaomi is making big strides in the smartphone business, no one guessed it was taking bigger strides in wearables business too. According to a recent report by Strategy Analytics Xiaomi has outsmarted the likes of apple and Fitbit to become the number 1 wearbles player in Q2.
In Q2, 2017, global wearables shipments reached 22 million units and of that Xiaomi grabbed a 17% market share, the highest. Xiaomi shipped 3.7 million wearables worldwide in Q2 2017 as against 3 million a year ago for the same period, showing a growth of 23%.
Strategy Analytics attributed this growth to Xiaomi’s wearables products like Mi bands that are competitively priced and have more features than some other venndors.
“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,” says Neil Mawston, Executive Director, Strategy analytics.
Fitbit, in contrast, shipped 3.4 million wearables and commanded 16% 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,” adds Mawston.
Apple shipped 2.8 million wearables worldwide in Q2 2017, growing 56% 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 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,” says Cliff Raskind, Director at Strategy Analytics.
Overall, Global wearables shipments reached 21.6 million units in Q2 2017, rising 8% annually from 20.0 million in Q2 2016. Strong demand for low-cost fitness bands in China and premium smartwatches across the United States drove the uptick, the research firm said.