Xiaomi World Domination: Wearables
Wearables, like it or not has become a major part of our lives these days, you cannot go around without spotting at least one type of wearables anywhere. Most of them on the wrist of course. It is not just fitness junkies that wear these things nowadays, everyone can wear them and find a use for them; from sleep tracking, to amount of steps taken daily, daily alarm clocks, reminders, a smart assistant, and many many more. Their functions, though limited are growing everyday.
IDC have released their quarterly analysis for the third quarter of 2015 of what sells the most and what not. Of course we all know the king of wearables, FitBit is still on top. No surprises there. Apple on the other hand scores an amazing second. Of course their 3.9 million shipment in this quarter comes as quite expected with the kind of fan and customer base they have amassed. Of course they are still quite far of compared to the 4.7 million units of FitBit merchandises shipping out this third quarter. The surprise though comes from Xiaomi.
Xiaomi has stormed the world with their “cheap premium” approach to their devices. They always offer premium hardware on their devices but at a price where a massive crowd could appreciate, or at least a price which does not blow a hole in their customer’s wallet. Last year they continued doing so into the wearables market with their Mi Band. A cheap fitness tracker that does all that an entry level fitness tracker should at a fraction of what other fitness trackers charge. Of course, they are only available in certain Asian markets only while the west does not have access to any Xiaomi devices yet. At Malaysian RM48 it is officially and easily the cheapest of wearables and fitness trackers in the Malaysian shores. Due to its affordable price point it is instantly a hit. No surprises there.
IDC’s analysis on Xiaomi’s wearables though showed that Xiaomi shipped 3.7 million units of their wearables worldwide. Mind you ‘worldwide’ for Xiaomi is some parts of Asia. It is also interesting to note that more than 90% of this 3.7 million units are shipped within its home market China itself. Of course the fact that China is currently one of fastest growing market for electronics helped the fact that Xiaomi achieved this feat. But one cannot help wondering what Xiaomi could achieve if they actually penetrates the European and American markets. Of course, as mentioned before by Hugo Barra, Xioami’s vice president it is all in the pipelines and they will get to Europe and the Americas eventually. But when they do, oh when they do.