Xiaomi beat Apple to become the biggest wearable brand during the third quarter of 2018. On the back of strong demand for its Mi Band 3, Xiaomi managed to ship more wearables than Apple with a 90.9 percent year-over-year growth in shipments.
According to new data from IDC, Xiaomi shipped a total of 6.9 million Mi Bands during the third quarter to capture a market share of 21.5 percent at the end of third quarter of 2018. The Chinese technology company had shipped only 3.6 million wearables during the same period last year. In comparison, Apple shipped only 4.2 million Apple Watch models during the third quarter of this year. Apple’s shipments also grew 54 percent over the same period last year.
Apple now has a market share of 13.1 percent in the wearables segment, up from 10.3 percent during the same period of last year. During the third quarter, the global shipments of wearable devices reached 32 million units. The total shipments were up 21.7 percent from the previous year. The analysts say the jump in shipments was helped by launch of new products from brands like Fitbit, Garmin and Huawei.
“Many of the new basic wearables include features like notifications or simple app integrations that bleed into smartwatch territory. This has helped satiate consumer demand for more capable devices while also maintaining average selling prices in a market that faces plenty of downward pressure from low-cost vendors and declining smartwatch pricing,” said Jitesh Ubrani senior research analyst for IDC Mobile Device Trackers.
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During the third quarter, Fitbit suffered a decline a 3.1 percent in its market share over the same period last year. It shipped 3.5 million wearables to capture a market share of 10.9 percent. Huawei follows it by shipping 1.9 million devices to capture a market share of 5.9 percent. The Chinese company saw its shipments grow by 20.3 percent over the same period last year. Samsung was fifth with 1.8 million wearables shipped to capture a market share of 5.6 percent, which translates to 91 percent jump in market share.