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Thursday, October 21, 2021

China’s Xiaomi rules as worldwide wearable market grew by 65%

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A leading global technology analyst reported that the market for wearables witnessed an increase year-over-year due to the growing popularity of the Mi Band of Xiaomi, a Chinese company that makes and invests in smartphones, mobile apps, laptops, earphones, television, and many other products, in Asia.

In the latest shipment numbers for wearables in the third quarter, Canalys research firm stated that the wearable band shipments reached 65 percent, recording a sale of 45.5 million units. The massive success of the Mi Band helped Xiaomi to become the number one brand in the global wearables market, it said.

APPLE ON SECOND NUMBER: According to the firm, shipments of the Xiaomi’s smart wearables totaled 12.2 million units for 27 percent Q3 market share, with an impressive 74 percent growth year-over-year. Behind Xiaomi in market share was Apple, second with 15 percent.

The technology analyst reported that Apple recorded its highest year-over-year growth since Q2 2017. Its Apple watch series five, which was introduced in September, contributed 60 percent of its quarterly shipments. During the same month, Apple had cut the price of the watch series three to $199.

HUAWEI ON THIRD POSITION: Apple’s series three continues to be the company’s most affordable smartwatch in the market. In the report, Huawei placed at third position with a 13 percent market share. The company witnessed a solid 243 percent growth year-over-year, with 5.9 million units shipped in the last quarter.

China is behind Huawei’s success in the wearable segment. Fitbit, which is in the process of being acquired by Google, occupied the fourth position. The company’s Versa 2 was launched at the end of last quarter, and it’s unclear how consumers responded to the flagship smartwatch.

On the other hand, Samsung managed to hold its position at number fifth in terms of the market share. The research firm notes that the Galaxy Fit was well received by consumers in Asia. In 2019, wrist bands continue to serve as an affordable alternative to smartwatches and companies are also trying to bridge the pricing gap between wrist bands and smartwatches.

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Minhas Justin
Born in Lahore, Minhas Justin is a freelance writer and journalist who writes for The Wallet. He is a graduate of Lahore Leads University with BS Honors in Mass Communication. He also holds a diploma in journalism from Beijing-based Renmin University of China. Twitter: @minhasjustin
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