With 2016 here Apple, Fitbit and Xiaomi seem to be fighting for majority market share in the wearable market. The Apple Watch has been getting a good traction so far. Fitbit announced their Blaze smartwatch to compete with Apple, though they didn’t get good feedback for it from their shareholders. Xiaomi came out from nowhere to the top three in the wearable market share; they launched their updated Mi Band Pulse with a heart rate sensor recently as well. It still costs $27 which is cheaper than some Apple Watch straps.
Here are 7 eye opening facts:
1. Over 50% of Fitbit users abandon their wearable in less than 12 months!
2. Xiaomi got about 17% of the market share from 0 last year. Their $15 Mi Band (that is cheaper than most of the Apple Watch bands!) sells 97% in China, this year it looks to go big in India as well.
3. One out of two smartwatches sold is an Apple Watch!
4. Whereas only one out of ten smartwatches sold are Android Wear smartwatches!
5. 30% of Apple Watches are sold in China. (Source)
6. Half the people using wearables are between the age of 18 to 34
7. 111 million wearables are estimated to ship in 2016. That is more than double that shipped in 2015! (Source)
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