Xiaomi beats Apple and Fitbit to lead wearable market

Chinese smartphone manufacturing giant Xiaomi has become world’s largest wearable band seller, shipping 3.7 million units in the second quarter (Q2), rising 23 percent annually. Xiaomi has captured almost 17 percent of wearable market share.

According to Strategy Analytics press release, wearable band market grew 8 percent year on year in the second quarter. Fitbit came second in wearable band market with shipping almost 3.4 million units. Similarly, Apple has been pushed to the third spot with almost shipping 2.8 million wearable units in Q2.

Fitbit saw almost 34 percent year-on-year decline in the wearable market.

Cliff Raskind, Director at Strategy Analytics, said, “Apple has for now lost its wearables leadership to Xiaomi, due to a lack of presence in the sizeable fitness band sub-category. 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.”

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Moreover, recently Xiaomi has become 5th largest smartphone manufacturing giant with annual shipment up by 58 percent. The company as of now has acquired 6 percent of total market share. Other Chinese mobile manufacturing companies such as Huawei and Oppo have retained their 3rd and 4th spot in the list while Samsung topped the list with Apple being placed at the second spot.

Furthermore, the company is planning to ship 100 million smartphones in 2018.