The latest data collected by analytic firm Strategy Analytics suggests that Apple was the world’s largest wearable vendor for Q1, 2017. The company surpassed Xiaomi, the previous market leader following a sharp increase in Apple Watch shipments.
Fitbit, which was one the wearable market leader, saw its shipments decline from 4.5 million in Q1, 2016 to 2.9 million in Q1, 2017. This led the company’s market share to fall from 24.7 percent to 13.2 percent in just a year. Xiaomi, the Chinese brand known for its cheap Mi Band wearable, also saw a decline in its shipments to 3.4 million (vs 3.4 million a year ago). This led the company’s market share to fall to 15.5 percent from 20.9 percent a year ago.
Apple, on the other hand, posted a 59 percent increase in its Apple Watch shipments — from 2.2 million units in Q1, 2016 to 3.5 million units in Q1, 2017. This allowed the company’s market share to increase to 15.9 percent, just 0.4 percent ahead of Xiaomi — the previous wearable market leader.
Apple’s strong performance can be attributed to the Apple Watch 2 which has been selling like hot cakes in developed countries like the US and UK since its launch last year. It’s likely that Apple will end up losing its top spot in the wearable market in the next quarter as many consumers will potentially hold off on their purchase in hopes of Apple launching a new Apple Watch alongside the iPhone 8 in September.
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