Xiaomi is definitely one of the well know companies catering to Asian consumers based on it’s highly reliable products and cheap rising for smartphones. The Chinese giant aims to be the best electronic device manufacturer in comparison to Apple, Google and Amazon and it could be inching closer towards that goal based on a new report from IDC. It states that Xiaomi dominated in the shipping of wearables in the third quarter of 2018.
The report shares some staggering numbers on the sales of Mi Bands including the newly launched Mi Band 3. Xiaomi sold 6.9 million units of Mi Bands during the third quarter of 2018 reaching a market value of 21.5 percent where Apple could only manage to sell 4.2 million Apple Watches in this year’s Q3 and even lower sales of 3.6 million for the previous year’s third quarter.
Speaking about global shipments, the percentage has gone considerably up by about 21.7 percent since last year because of the new releases from brands like Fitbit, Huawei and Garmin. The total global shipments for wearables in Q3 2018 amounts to 32 million units, with Apple having a market share of 13.1 percent this year.
Jitesh Ubrani, senior research analyst for IDC Mobile Device Trackers said:
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
Jaipal Singh, Associate Research Manager, Client Devices, IDC India said:
While vendors need to identify a new pricing sweet spot for smartwatches, the next challenge is to address the positioning of watches which is still seen as a vanity product in India. Also, many vendors haven’t explored the kid segment which can be a volume driver for this category as they are more comfortable with technology and new products.