Xiaomi has claimed top spot at the largest wearable vendor in the world. An impressive feat considering that it has managed to beat out both Apple and Fitbit for the honour. On the other hand, the Fitbit is facing declining sales and has seen its sales drop by almost half.
Xiaomi has managed to claim 17.1 percent of the wearable market in the second quarter 2017. Shipments increased to 3.7 million units, up from three million from same period in 2016.
The strategy of selling low cost fitness trackers seems to be paying off for the Chinese company. Which is impressive considering that it doesn’t really have a presence in Western markets. Perhaps showing that there is no rush to expand in that direction. Especially since it also recorded a smartphone sales increase of 70 percent in the same period.
Xiaomi’s success stands in stark contrast to Fitbit’s fortunes. The company saw its market share slashed to 15.7 percent, down from 28.5 percent last year. It’s a substantial drop that only highlights the no-man’s land in between budget wearables from Xiaomi and premium smartwatches from Apple.
Cupertino has also managed to increase its market share at Fitbit’s expense; going from nine to 13 percent. Apple still doesn’t report its wearable sales separately in financial reports, but market research firms believe that the product is in a healthy position.