Fitbit to launch new smartwatch to compete with Apple

Gwen Vasquez
August 4, 2017

He added that the rumored Apple Watch Series 3, expected to ship this fall, could change that. "Strong demand for low-priced fitnessbands in China and premium smartwatches across the United States drove the uptick". Based on the firm's analysis, that puts Apple behind Xiaomi in the wearables market.

In terms of numbers, Fitbit sold 3.4 million devices in the second quarter, up 14 per cent sequentially for $353 million in revenue.

Xiaomi has shipped 3.7 million wearables worldwide in Q2 2017, which was a 23% annual rise from the same quarter a year ago where it had shipped 3 million units of wearable devices, according to a Strategy Analytics report. Mi Band shipments overtook Fitbit shipments in Q2 2017, allowing Xiaomi to capture 17.1 per cent market share in the last quarter.

When compared to Q2 2016, shipments are down 1.3 percent for a total count of 341.6 million units.

Apple's market share in the wearables segment increased significantly to 13% during the quarter from just 9% in the same quarter past year.

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Strategy Analytics is quite bullish on Apple, because of the launch of their next model of Apple Watch, which promises some great features which includes the next generation of fitness tracking. According to Cliff Raskind, Director at Strategy Analytics, Apple lost out to Xiaomi this past quarter because of a lack of presence in fitness tracking.

Although the smartwatch's price was not revealed, a reasonable guess would have it somewhere near what will be its biggest competitor in the Apple Watch, between $300 and $400.

Premium smartwatchesFitbit is at risk of being trapped in a pincer movement between the low-end fitness bands sold by Xiaomi and the fitness-led, premium smartwatches sold by Apple.

From April to June, wearable shipments increased 8 percent to 21.6 million, compared to 20 million in the previous corresponding quarter. The Chinese vendor's Mi Band trackers are wildly popular in its home market thanks to their keen pricing and features such as heart-rate monitors, step-counters and calendar alerts.

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