According to the latest research from Strategy Analytics, global wearables shipments reached 22 million units in the first quarter of 2017. Apple captured 16 percent marketshare and became the world’s largest wearables vendor, overtaking Fitbit.
Steven Waltzer, Industry Analyst at Strategy Analytics, said, “Global wearables shipments reached 22.0 million units in Q1 2017, rising 21 percent annually from 18.2 million in Q1 2016. Stronger demand for new smartwatch models in North America, Western Europe and Asia drove the uptick.”
Neil Mawston, Executive Director at Strategy Analytics, said, “Apple shipped 3.5 million wearables worldwide in Q1 2017, rising 59 percent annually from 2.2 million units in Q1 2016. Apple captured 16 percent global marketshare and overtook Fitbit to become the world’s largest wearables vendor.
The new Apple Watch Series 2 is selling relatively well in the US, UK and elsewhere, due to enhanced styling, intensive marketing and a good retail presence. Xiaomi shipped 3.4 million wearables for 15 percent marketshare worldwide in Q1 2017. Demand for its popular Mi Band fitness range was broadly flat across its core markets of Asia.”
Cliff Raskind, Director at Strategy Analytics, said, Fitbit shipped 2.9 million wearables worldwide in Q1 2017, falling a huge 36 percent annually from 4.5 million in Q1 2016. Fitbit has lost its wearables leadership to Apple, due to slowing demand for its fitnessbands and a late entry to the emerging smartwatch market.
Fitbit’s shipments, revenue, pricing and profit are all shrinking at the moment and the company has a major fight on its hands to recover this year.
Exhibit 1: Global Wearables Vendor Shipments and Marketshare in Q1 2017 1
|Global Wearables Vendor Shipments (Milions of Units)||Q1 ’16||Q1 ’17|
|Global Wearables Vendor Marketshare %||Q1 ’16||Q1 ’17|
|Total Growth YoY (%)||74%||21%|
|Source: Strategy Analytics|
The full report, Global Wearables Vendor Market Share by Region: Q1 2017, is published by the Strategy Analytics Wearable Device Ecosystems (WDE) service, details of which can be found here: http://tinyurl.com/n29s7tt.