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Fitbit Has Lost Ground in Global Wearables Market

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Fitbit’s market share fell to 12.3% in 1Q17

As you can see in the table below, Fitbit’s (FIT) market share in the worldwide wearable devices market fell to 12.3% in 1Q17, from 23.2% in 1Q16, according to market research firm IDC (International Data Corporation). Its shipments fell 37.7% YoY (year-over-year) to 3.0 million units in 1Q17, from 4.9 million units in 1Q16.

Fitbit led the wearables market for several years and has now fallen to the third position in terms of market share. IDC said, “The company believes that there is market need for fitness trackers with the launch of its Alta HR and continued popularity of its Charge 2 wristband and Blaze watch. Moreover, its recent acquisitions of Coin, Pebble, and Vector are expected to translate into the company’s first smartwatch.”

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Apple and Xiaomi fight for the top slot in wearables

Apple’s (AAPL) shipments in the wearables market rose significantly by 64.0% YoY to 3.6 million units in 1Q17, from 2.2 million units in 1Q16. It now has a 14.6% share in the segment, which is similar to Xiaomi, whose shipments fell 3.3% YoY in 1Q17.

The other top players include Samsung (SSNLF) and Garmin (GRMN), which had market shares of 5.5% and 4.6%, respectively, at the end of 1Q17. Samsung’s shipments rose 90.8% YoY to 1.4 million units, whereas overall shipments rose 17.9% YoY to 24.7 million units in 1Q17, from 20.9 million units in 1Q16.

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