Apple has the lead in the overall wearables market
Apple’s (AAPL) smartwatch shipments have picked up steam over the last few quarters. According to Canalys, Apple was the leader in the global wearables (WEAR) market in the first quarter, with Xiaomi coming in a close second.
Apple shipped 3.8 million smartwatches during the quarter, while Xiaomi shipped 3.7 million. Fitbit (FIT), which was the leader of the segment last year, came in third with an 11% market share. While Apple does not publish its Apple Watch revenue, CEO Tim Cook said that Apple Watch saw strong double-digit growth during the quarter, Apple’s fiscal Q2 2018.
Apple Watches still represent a very small portion of Apple’s total revenue
Apple Watches are a part of Apple’s Other Products segment, which also includes Apple TV, AirPods, Beats products, and HomePod. The segment made up 6.5% of the company’s total revenue in the second fiscal quarter.
According to the Canalys report, in the first quarter, the entire wearables market grew 35% year-over-year to a total of 20.5 million units. However, this report also includes sales of fitness trackers and bands. In terms of only smartwatches, which is a faster-growing wearables segment, Apple may have a much bigger lead.