Xiaomi leads the wearables market, overtaking Apple and Fitbit — 2022

When the first wearables hit the market, the world was amazed at their capabilities. The future seemed very promising, many companies launched their own products and we all thought every person would have one of them. Over time we have seen that the reality has been a little different, leaving the market in very few hands, where apparently the manufacturer Xiaomi is ahead of the competition .

Xiaomi is eating the market

During the beginning of this new technology, Fitbit It was the company that placed the most products on the wrists of users, capturing most of the market.
Time has passed and now the Chinese manufacturer Xiaomi seems to be getting more and more followers of its bracelet.

According to a report from Strategy Analytics Xiaomi is gaining ground quarter by quarter . Although in a previous study, during the first quarter of the year Apple led sales Now things have changed.



Graph showing Xiaomi leading wearable sales.
Source: www.strategyanalytics.com

In the graph above it is possible to see the number of units sold during Q2 this year, compared to the same period last year. as we see Xiaomi, Fitbit and Apple lead the market, followed by other manufacturers.

During the second quarter of this year 21.6 million units were sold , representing 8% growth Over the previous year.
Of that total of devices sold, Xiaomi remains with 17.1% leading the list, followed by Fitbit with 15.7% and Apple with 13% of the pie.

If we analyze the same period last year, we see that Xiaomi and Apple have increased their market share, while Fitbit turns out to be the big loser, losing 12.8% of the pie.

Xiaomi and its pricing policy, the formula for success?

Within the three main players in the wearables market, we find different types of business strategies.
On one hand we find Apple , with his Apple Watch that offers different price alternatives between the different watch models it offers, from €339 to €1,519 .
Xiaomi It has different alternatives between €20 and €30 , although has presented a smart watch inspired by the Apple Watch Nike+ that will also have a very low price of approximately €70.

Xiaomi watch inspired by the Apple Watch Nike+

The other important competitor in the market, Fitbit , it is practically in the middle of Xiaomi and Apple when it comes to pricing strategy. offering models between €59.95 and €160 .

As we see, the low price policy offered by Xiaomi seems to be working wonders , mainly for those looking for a simple and easy-to-use activity tracker.
For its part, Apple seems to be doing a good job for those who are looking for something more, and the positive numbers prove it.
We will see how the market evolves and if new entrants gain ground that Fitbit is losing.