Xiaomi leads the market for wearables, beating Apple and Fitbit - NewCydiaTweaks

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Saturday, August 5, 2017

Xiaomi leads the market for wearables, beating Apple and Fitbit


When the first wearables hit the market, the world was shocked by its capabilities. The future looked very promising, many companies launched their own products and we all thought every person would have one of them. With the passage of time we have seen that the reality has been a little different, leaving the market in very few hands, where apparently the manufacturer Xiaomi takes the lead against the competition .

Xiaomi is eating the market

During the beginning of this new technology, Fitbit was the company that more products put in the wrists of the users, arriving to capture the greater part of the market. 
The time has passed and now the Chinese manufacturer Xiaomi seems to be getting more adept at his bracelet.
According to a report by Strategy Analytics  Xiaomi is gaining ground quarter to quarter . While in an earlier study, during the first quarter of the year Apple led sales , today the thing has changed.
Xiaomi surpasses the competition in Q2 2017
Graph showing Xiaomi leading sales of wearables. 
Source: www.strategyanalytics.com
In the chart above you can see the number of units sold during Q2 this year, compared to the same period last year. As we see Xiaomi, Fitbit and Apple lead the market,followed by "other manufacturers".
During the second quarter of this year , 21.6 million units were sold , representing growth of 8% over the previous year. 
Of that total of devices sold, Xiaomi is left with 17.1% leading the list, followed by Fitbit with 15.7% and Apple with 13% of the pie.
If we look at the same period last year, we see that Xiaomi and Apple have increased their market share, while Fitbit turns out to be the big loser, losing 12.8% of the pie.

Xiaomi and its pricing policy, the formula of success?

Among the three main players in the wearables market, we find different types of trading strategies. 
On the one hand we find Apple , with its Apple Watch that offers different price alternatives among the different models of watches offered, from € 339 to € 1,519 . 
Xiaomi has different alternatives, between € 20 and € 30 , although it has presented a smart watch "inspired" in the Apple Watch Nike + that will also have a very low price, approximately € 70.
Xiaomi watch inspired by the Apple Watch Nike
Xiaomi "inspired" watch on the Apple Watch Nike +
The other major competitor in the market, Fitbit , is practically in the middle of Xiaomi and Apple as far as pricing strategy is concerned. Offering models between € 59.95 and € 160 .
As we see, the low price policy offered by Xiaomi seems to be working wonders , mainly for those looking for a simple and easy to use activity quantizer bracelet. 
For its part, Apple seems to be doing a good job for those who are looking for something else, and the positive numbers show. 
We will see how the market evolves and whether new entrants gain the ground that Fitbit is losing.

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