This crash is huge: Xiaomi is going downhill on the smartwatch market. The Chinese are down by more than 20 percent in the third quarter of 2022. One competitor in particular was able to take advantage of Xiaomi's weakness.
The so-called "wearables", ie computers worn on the body, continue to enjoy great popularity, according to IDC. For the past quarter, the market researchers count a growth of 9.9 percent in the category, which in addition to smartwatches and fitness trackers also includes headphones. The big loser in the third quarter is Xiaomi.
Xiaomi loses 23.8 percent in the smartwatch market
The Chinese manufacturer has to cope with a minus of 23.8 percent and has fallen from second to third place (source: IDC). The bottom line is that Xiaomi has a market share of 9.2 percent in Q3 / 2022 and is therefore on par with Samsung .
In contrast to Xiaomi, the South Koreans grew strongly . On the plus side, there is an increase of 13.8 percent. According to IDC, Samsung owes in particular to the successful market launch of the Galaxy Watch 4 and the strategy of bringing their own headphones to the public by means of many bundle offers.
Apple continues to secure the gold medal . Despite minor losses, the US company has a market share of 28.8 percent with its Apple Watch and AirPods. Noteworthy: According to the market researchers, more than every second US dollar that is spent in the "wearables" category ends up in Apple's account.
Did you know where Xiaomi has a hand in everything?
Xiaomi's addiction to fitness trackers becomes undoing
The IDC explanation suggests that the lousy numbers for Xiaomi could be more than just a snapshot. Accordingly , many consumers are currently turning away from classic fitness trackers and are increasingly buying smartwatches . While Xiaomi is traditionally very strong with the former – just think of the Mi Band – the Chinese manufacturer has so far lacked a resounding smartwatch on par with Apple Watch, Galaxy Watch and Co.