When you think of wearable tech there’s one name that jumps to mind first: Fitbit. So much so that many fitness bands are called, generically, Fitbits. And with good reason, the company once held sway over the world’s wearables market but now there’s a new king of the castle. And it’s not contender Apple. It’s Xiaomi.
Xiaomi has captured 17.1% of the world’s wearables market, taking over from Fitbit and bypassing close competitor Apple. This has less to do with the Chinese company putting in a better performance, though, they did ship 3.7 million units by Q2 2017 compared to 3 million the same time last year, than it did with Fitbit having a poorer time of things.
Last year Fitbit ruled the wearables market, accounting for 28.5% of the arm-worn tech sold around the world, but they’ve had a declining year. Shipments fell from 5.7 million units in 2016 to 3.4 million units, leaving Fitbit in second place with 15.7% of the market.
Apple’s standings have also increased, though the company remains in third place. Apple shipped 1.8 million units in 2016, climbing to 2.8 million this year. The Apple Watch has proved very popular with high-end users and this, combined with Xiaomi’s frequently low pricing, is putting a bit of a squeeze on Fitbit. Might be why Fitbit’s so keen on that upcoming smartwatch.