The Chinese manufacturer sold 12 million units (5.4 per cent market share) last year
The latest figures from the International Data Corporation (IDC) show Xiaomi wearable shipments grew by 951 per cent year-on-year in 2015.
Of the 78.1 million wearables sold last year – a 171 per cent y-o-y increase – Xiaomi sold 12 million. This represented a 15.4 per cent market share. It had only sold 1 million units (4 per cent market share) the previous year.
IDC claims the surge in Xiaomi sales was driven by the manufacturer’s focus on pricing products like the Mi Band (pictured) at a much lower cost than the competition.
Despite the huge rise, Xiaomi came second last year for wearable shipments. Fitbit led the pack, having sold 21 million units (26.9 per cent) – a y-o-y growth of 93.2 per cent. Apple ranked third having sold 11 million Apple Watches (14.9 per cent share). The Apple Watch only came out last year, so there were no y-o-y comparisons. Garmin placed fourth, with Samsung following in fifth.
IDC Wearables research manager Ramon Llamas said: “Triple-digit growth highlights growing interest in the wearables market from both end-users and vendors. It shows that wearables are not just for the technophiles and early adopters; wearables can exist and are welcome in the mass market.
“And since wearables have yet to fully penetrate the mass market, there is still plenty of room for growth in multiple vectors: new vendors, form factors, applications, and use cases. This will help propel the market further.