Xiaomi has successfully secured its position as the top wearable manufacture in Q2 of 2017, as mentioned in the reports of Strategy Analytics.
The company shipped 3.8 million products, capturing 18% of the market share, and proved itself as a proficient brand to design hi-tech wearable devices. The company outpaced Fitbit (3.3 million) and Apple (2.8 million), according to the figures of the report.
Fitbit saw a drastic decline in the sales. The company was able to sell 5.7 million units in the second quarter of 2016 which was pretty high compared to the sales figure of Apple and Xiaomi. The company’s revenue stream is in jeopardy, as Xiaomi is taking over both the lower and higher end products of the market. The situation is competitive for the top three vendors. But if this continues, Fitbit will be out of the game.
Experts say that Apple can easily steal the crown of the top wearable vendor from Xiaomi in the coming quarters of 2017. Apple shipped 2.8 million units in the second quarter of 2017 which is 64% higher than the sales in Q2 2016. However, the rumor of Apple launching a new product has altered the sales figure of both Xiaomi and FitBit. People are eagerly awaiting the release of Apple Watch Series 3, which has enhanced health tracking features compared to their previous products.
On the other side, investors are also spending big on FitBits new smartwatch which will be launched in the holiday season of 2017. The company has received revenue of $365 million for the next quarter, which is a huge sum of money.
FitBits new product will connect data and community in a virtuous circle as mentioned by James Park, CEO of FitBit. He said, “Our brand and engaged community enables us to be the wearable of choice for both consumers and health ecosystem players, enabling us to capture more data and to produce better algorithms and software innovations, in turn positioning us to drive better health outcomes, and by default lower medical costs.”
It’s certain that these three brands have raised the bars for wearable devices. Their innovations have improved the standards of wearable technology. Let’s see what they have to offer in coming days.