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

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 IncAAPL
's 56.7 percent year-over-year drop in unit shipments, while
Fitbit IncFIT
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. 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!
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorNewsAnalyst RatingsMoversTechTrading IdeasPress ReleasesGeneralIDCsmart watchessmart wearableswearablesXiaomi
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...