Over the past decade, we’ve seen smartphones become an essential part of our daily lives. Thanks to rapid advancements in technology, we can now say the same about wearable market. Market research firm Canalys has released the latest shipment numbers for the wearables segment in the third quarter, with Xiaomi at the front of the pack as expected.
The massive success of the Mi Band helped Xiaomi to become the number one brand in the global wearables market. Shipments of the company’s smart wearables totaled 12.2 million units for 27 per cent Q3 market share, with an impressive 74 per cent growth year-over-year. The primary reason behind Xiaomi’s success is its good old strategy of selling feature-rich products at competitive price points.
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Apple placed second with 15% market share, where 60% of shipments were attributed to the newest Apple Watch Series 5. During the same month, Apple had cut the price of the Watch Series 3 to $199. Canalys notes that Apple recorded its highest year-over-year growth since Q2 2017.
Huawei ranked third with 5.9 million units and 13% market share and saw a 243% annual growth thanks to growing sales in China. Unlike Xiaomi and Apple, Huawei manufactures both fitness trackers and smartwatches, giving them a slight upper hand.
Fitbit (soon to be acquired by Google) made up 8% of the market, and was the only vendor that didn’t see much growth compared to last year. Samsung on the other hand managed to hold its position at number fifth in terms of market share. The research firm notes that the Galaxy Fit was well received by consumers in Asia. Following this we have many other smaller brands that acquired 31% market share.
The American market was mostly dominated by Apple. As mentioned above, the Apple Watch Series 5 brought many nifty features like an always-on display, improved customization, and many more. The highly price-sensitive market of Asia-Pacific was mostly ruled by Xiaomi, Samsung, and Fitbit. Surprisingly, both Android and iOS users contributed to the rapid success of Mi Band 4 in India.
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