We often feature Chinese manufacturer Xiaomi in the news even though it has little footprint outside of its home country. The company is merely four years old yet it is ahead of some of its biggest rivals in terms of market share in China. Its units sales have already witnessed a 271 percent growth this year. Xiaomi sells powerful devices at highly competitive prices and now it appears that the company is taking that same strategy to wearable devices as well.
As per reports originating from China Xiaomi will soon be launching a fitness tracker. Since its ultimate aim is to offer devices at low prices it is unlikely that Xiaomi’s upcoming wearable device will be anything more than a fairly basic fitness tracker.
Nevertheless it would allow the company to cut the likes of Jawbone and Fitbit on its home turf. Both companies offer similar wearable devices though they cost above $100 at the very least. Xiaomi’s fitness tracker will reportedly cost about 199 Yuan or roughly $30.
It may even compete against similar wearable devices from its rivals in other emerging markets as well. Xiaomi recently listed a handful of countries in the region where it is expanding operations next. By introducing its low cost wearable device there alongside its competitively priced mobile devices, Xiaomi may very well be able to capture significant market share.
The Chinese manufacturer has ambitions of making it to the U.S. but that plan could take up to a year to materialize.