When it comes to smartphones, Xiaomi appears to be catching up to giants such as Apple and Samsung which is impressive given that both Apple and Samsung have been in this game for a while, not to mention Xiaomi’s offerings are typically limited in Asia whereas Apple and Samsung are global.
However it looks like not only could Xiaomi potentially overtake Apple and Samsung in terms of mobile devices, but they could be on their way to conquer the wearables market. According to recent numbers released by IDC (via Android Central), it turns out that Xiaomi is actually the world’s second largest wearable vendor, mighty impressive if you consider that the company is also relatively new to the market.
The IDC puts the company’s market share as of Q1 2015 at 24.6% which puts them in second place behind the likes of Fitbit which has a market share of 34.2%. This corroborates an earlier report in which it stated that Fitbit was the leader in the wearables market, but at the rate Xiaomi is growing, we wouldn’t be surprised if they eventually caught up.
Once again it looks like the company is competing purely on price. While Fitbit, Samsung, and Garmin have wearables that cost around the $100 mark, Xiaomi instead competes by making them dirt cheap. Last year’s Xiaomi Mi Band was launched for only $13, making it a very compelling alternative.