Xiaomi India’s VP and Managing Director, Manu Kumar Jain, recently announced the new milestone the company has achieved through a tweet mentioning that Xiaomi has overtaken Apple and Fitbit in the wearable sector in the first quarter of 2017.
According to the research firm International Data Corporation (IDC), Xiaomi is ruling the wearable market by a small margin of 0.1%.
As the market leader of this quarter, Xiaomi overtook Apple and Fitbit with the total shipments of 3.6 million units. Despite the 3.3% decline in the shipments, the company was able to capture 14.7% of the market. The primary reason for this was bringing in highly inexpensive wearables in the market with wide range of features. Most of the shipments were of its budget Mi Band wearable and only within China.
Xiaomi’s Mi Band 2, priced at 1,999 offers all key sensors along with 20 days long battery backup. The pricing is highly competitive and is a much economical option that buying a FitBit or an Apple watch.
After the launch of ’90 Minutes Ultra Smart Sportswear’ Xiaomi might venture out of wristwear.
On the other hand, Apple managed to ship 3.6 million units of Apple Watch Series 1 as well 2. With the shipment growth of over 64% as compared to last year, the company was able to capture a market share of 14.6%, 0.1% less than that of Xiaomi. However, if we take profit margins into account as well, Apple and Samsung are far ahead than Xiaomi. Over that, the company recorded second highest year-over-year growth for its Apple Watch.
Fitbit, the previous market leader, however, couldn’t manage to sustain in the competition and saw a decline of 37.7% in the shipments. The company is currently struggling to transform from a fitness wearable maker to solely smartwatch brand. Despite the fall in sales, Fitbit stays firm with 12.3% market share. Over that, the company also acquired Pebble and Vector and is working to introduce its own smartwatch.