China’s Xiaomi shipped 3.7 million wearables in the second quarter of this year, ahead of Fitbit (3.4 million), and Apple (2.8 million), giving it the largest global market share of any wearables brand at 17%. One year ago, Fitbit was able to boast 5.7 million units shipped, compared to Xiaomi’s 3 million, according to Strategy Analytics metrics.
The Chinese firm’s success can largely be put down to devices such as the Mi Band 2, which comes at $25 to $30 but boasts a feature set superior to those of a number of more expensive kits, including the likes of heart rate monitors, stepcounters and calendar alerts.
Fitbit, on the other hand, isn’t able to offer a competitive smartwatch. The company had planned a spring launch for such a product but has been hamstrung by delays, while it has also been forced to make layoffs. Fitbit’s market share is down from 29% one year ago.
And Apple? “The rumoured 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.