Wearables are getting more and more popular thanks to the innovative products and unique use cases offered by companies. Now, according to a report from market research firm IDC, Chinese market witnessed shipments of 27.15 million units for wearable devices in the third quarter of this year.
The shipments for the Q3 2019 represents a growth of 45.2 percent compared to the shipments of 20.97 million units during the same period in the previous year. Further, the report also predicts the market to reach 200 million units in 2023.
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The report shows that shipments of basic wearable devices (wearable devices that do not support third-party applications) were 20.97 million units, representing a year-on-year increase of 38.2 percent while the shipments of smart wearable devices were 6.18 million units, a year-on-year increase of 75.5 percent.
Coming to the companies, the report shows that Xiaomi is leading the wearables market and the report is attributing this to the Mi Band 4 fitness tracker and its aggressive pricing leading to high-scale shipments. Xiaomi holds 25 percent market share while Huawei and Apple have grabbed 20.7 percent and 13 percent market share respectively.
As for the growth, Huawei saw its shipments almost double as the company’s market share has reached from 10.7 percent in the third quarter of 2018 to 20.7 percent in the third quarter of 2019.
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