With a record-high global market share of 27%, or 12.2 million units shipped, Chinese tech company Xiaomi retained its position as the world’s largest seller of smart wearable bands in the third quarter of 2019, according to a new report by market research firm Canalys.
The figure represents a year-on-year increase of 74%, which Canalys attributed to Xiaomi’s strong domestic performance and robust overseas expansion.
The Beijing-based company has adopted a low-price strategy to win consumers, and relies heavily on overseas markets as an important pillar of its growth. It recently entered the Japanese market with the launch of a series of smart products including the wearable Mi Smart Band 4.
Xiaomi’s Chinese peer, Huawei, claimed the third spot with 5.9 million units shipped in the quarter. This was helped by sales in the home market. Huawei managed to surpass Fitbit, which came in fourth with its global market share shrinking to 8%, according to the report.
Apple ranked second with a 15% global market share. Approximately 60% of its third-quarter shipments were down to sales of Apple Watch Series 5 which launched in September, Canalys said.
During the third quarter, the Greater China region accounted for about 40% of total wearable smart device shipments of 45.5 million units, representing an increase of 65% from last year, according to the report.
Contact reporter Ding Yi (email@example.com)
Related: Xiaomi to Enter Japan on Dec. 9