Xiaomi and Huawei Among Top Five Wearable Companies According to IDC

The global wearable device market continued to grow in the second quarter of 2018, according to the latest report released on Sept. 5 by market research company International Data Corporation (IDC). Xiaomi and Huawei ranked second and fourth respectively among the top five on the list. SEE ALSO: IDC’s Quarterly Report on the Chinese Smart Devices Market, 26% Increase in Shipment Numbers According to the latest data, total global shipments amounted to 27.9 million units in the second quarter, marking an increase of 5.5 percent over the previous year. Due to the continuous high sales volume of high-end smart watches, the market sales in dollars also showed similar surges, totaling $4.8 billion with a year-on-year increase of 8.3 percent.

Apple Inc. topped the list with a total sales of 4.7 million Apple Watches. It is also reported that Apple will release the Apple Watch Series 4 next week. Chinese electronics maker Xiaomi possessed a 15.1 percent share of the global market. In the second quarter, Xiaomi's total wearable device shipments reached 4.2 million units, with a 19.8 percent year-on-year rise, only 500,000 units behind Apple shipments. IDC also revealed that Xiaomi has also successfully diversified its product portfolio, offering shoes, children's watches, and multiple variants of the Mi Band for the low-end market. Huawei, on the other hand, has shipped a total of 1.8 million units in the second quarter, showing a year-on-year increase of 118.1 percent. Its market share surged up to 6.5%, a 3.1 percent climb compared to the same period last year. The Honor series accounted for slightly over 50 percent of Huawei's total shipments. The two companies occupying the third and fifth places are San Francisco-based company Fitbit and Olathe-based Garmin respectively.