It has more than 1/4 the global market share
Aside from making waves with its value-for-money smartphones, Xiaomi is making a killing in the wearable market—led by its Mi Band series. According to Canalys’ Q3 2019 report, Xiaomi has 27% of the market share, followed by Apple and Huawei at 15% and 13% respectively.
Apple’s growth in the wearable market is caused by the demand for the Watch Series 5 and the Watch Series 3 being more affordable than ever. On the other hand, Huawei’s growth in the wearable market is caused by its marketing initiative of bundling its entry-level wearables with smartphones.
On a per-region analysis, the Asia Pacific region (excluding China) experienced the biggest shipment growth for wearables, which is attributed to brands offering low-cost wearables that are more accessible to the public.
You can read the full report here.