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Xiaomi named third-largest wearables vendor

  • Author:Nora
  • Release on :2015-12-23

Xiaomi grew 815.4 percent year-over-year, making it the world’s third-largest wearables vendor by shipments, according to Q3 data from IDC. Thanks to its $15 Mi Band, which greatly undercuts the competition on price, Xiaomi shipped 3.7 million units in Q3, taking 17.4 percent of the market. Fitbit and Apple were first and second in the market, shipping 4.7 million and 3.9 million units, and accounting for 22.2 percent and 18.6 percent of the market, respectively. In terms of growth, though, Xiaomi blew away the competition. Fitbit grew just more than 100 percent.

Xiaomi is not the only China company to get good news from this data. BBK Electronics is now the fifth-largest wearables manufacturer thanks to its XTC Y01. The device is a children’s phone watch that has sold an estimated 700,000 units, making up 3.1 percent of the wearables market. The company beat out Samsung by 100,000 units and all its sales came from within China, according to IDC. Similarly, 97 percent of Xiaomi’s sales came from within the country.

While Xiaomi might mostly just be selling its smart bands in China, the company does have aspirations beyond its home country’s shores. The manufacturer has already expanded its smartphone business into a few other emerging markets. Patent issues have mostly kept it out of the US and Western Europe, but that does not apply to its wearables. In fact, the company has said it wants to use its other products to expand into the US, where it already makes a couple accessories available. Brand awareness is currently an issue, but it appears there is a market for a less expensive wearable device that can do most of what people want out of a wearable. Many China manufacturers produce affordable smart bands that can track basic health information. Something similar to the Y01 is perhaps more niche, yet XTC is not the only one in this market. Shenzhen Xexun Technology, for example, produces a “kid’s phone watch,” as does Smart Times Technology.