The Chinese manufacturer Xiaomi’s Mi band fitness tracker that is priced affordably has helped the maker attain the top position in the wearable market segment with a share of 27.1 percent in the first quarter of the year. The Mi Band is followed by GOQii and Fitbit, claims International Data Corporation (IDC), a research firm.
Xiaomi was the leader this quarter with the continuous success of Mi Band. It has helped the company gain a significant market share, stated the company in an official statement confirming the data by IDC.
Samsung, the South Korean smartphone manufacturer has ranked fourth in the same market segment with a share of 2.5 percent only, claimed the report. It further added that the company had a 20.4 percent market share in the wearable category.
When it comes to the number of units sold, Xiaomi and GOQii have contributed to more than 45 percent of the total. The smart wearables have not gained enough ground due to the high price that is attached to them, stated Raj Nimesh, the Senior Market Analyst of Client Devices at IDC.
The analyst added that the smart wearables remained low with a market share of just 12.3 percent. He claimed that a higher growth rate than the basic devices that are expected in the future. The top leading spots were obtained by Samsung and Motorola respectively. The third spot is gained by Apple due to the issues related to the channel.
The wearable devices witnessed three times higher growth annually and similar growth is believed to grow further in the near future as well. The expected launch of the reasonably priced smartwatches this quarter by Intex and Xiaomi with the iRist Pro and Mi Band 2 respectively will help in this growth.