Market Overview

Global Wearable Markets Jump 26.1% In Q2; Fitbit Retains Lead While Apple Sinks

Share:
Global Wearable Markets Jump 26.1% In Q2; Fitbit Retains Lead While Apple Sinks
Related AAPL
And The Oscar Goes To... Apple
Buffett's Bucket List Buys: The Oracle Making Unexpected Plays Late In The Game
5 Key Points From Warren Buffett's Letter, Berkshire Hathaway Earnings (Investor's Business Daily)
Related FIT
Fitbit May Have Hit Bottom, For Now
Garmin Defies Market Sentiment With Across-The-Board Strength In Q4
4 Reasons Why The Stock Rally Is Not Trump-Related - Cramer's Mad Money (2/23/17) (Seeking Alpha)

Wearable device shipments jumped 26.1 percent to reach 22.5 million in the second quarter of the current year, according to IDC. The growth came amid Apple Inc (NASDAQ: AAPL)'s 56.7 percent year-over-year drop in unit shipments, while Fitbit Inc (NYSE: FIT) retains its lead with 28.7 percent year-over-year growth.

IDC divided the wearables into two categories: basic and smart wearables. While basic wearables delivered 48.8 percent jump on a year-over-year basis, smart wearables witnessed a year-over-year drop of 27.2 percent.

Related Link: Spike In Apple's Component Orders Could Signal Co. Believes iPhone 7 Sales Will Outperform

The research firm's research manager for wearables, Ramon Llamas, said, "Basic wearables, which include most fitness trackers, have benefited from a combination of factors: a clear value proposition for end-users, an abundant selection of devices from multiple vendors, and affordable price points."

The Top 3

Among the top five, Fitbit shipped 5.7 million units and boosted its market share from 24.9 percent to 25.4 percent and retained the leadership position. The second position is filled by Xiaomi with 3.1-million-unit shipment recording 2.5 year-over-year growth. As a result, its share dipped from 17.2 percent to 14.0 percent.

The third position is held by Apple, despite witnessing 56.7 percent drop in unit shipment to 1.6 million. Its market share plunged from 20.3 percent to 7.0 percent in the wearable segment.

The fourth position is occupied by Garmin Ltd. (NASDAQ: GRMN) more than doubling its shipment to 1.6 million units in the second quarter. As a result, its market share advanced from 4.2 percent to 6.9 percent.

At Time Of Writing ...

  • Apple was down 0.15 percent at $107.57.
  • Fitbit was trading at $15.20, up 1.71 percent.
  • Garmin shares were up 0.43 percent at $48.96.

Full ratings data available on Benzinga Pro.

Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

Latest Ratings for AAPL

DateFirmActionFromTo
Jan 2017BarclaysDowngradesOverweightEqual-Weight
Jan 2017OTR GlobalDowngradesNegative
Jan 2017GuggenheimInitiates Coverage OnBuy

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: Analyst Color News Analyst Ratings Movers Tech Trading Ideas Press Releases General Best of Benzinga

 

Related Articles (FIT + AAPL)

View Comments and Join the Discussion!