Fitbit device sales rose 3% in the fourth quarter
Fitbit’s (FIT) device sales rose 3% YoY (year-over-year) in the fourth quarter of 2018, far below the 31.4% growth in wearable devices overall.
Similarly, Fitbit’s device sales fell 10% in 2018 compared to the overall growth of 27.5% in the wearables market.
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Fitbit’s market share in the global wearables space fell from 11.9% in the fourth quarter of 2017 to 9.4% in the fourth quarter of 2018.
Fitbit has lost two positions and is now the fourth-largest player in this space. It must be disconcerting for Fitbit investors to see the company rapidly losing market share in a market that’s growing at a robust pace.
Other top players include Apple, Xiaomi, and Samsung
The top players in the wearables space include Apple, which leads the market with a share of 27.4%, China’s (FXI) Xiaomi and Huawei with shares of 12.6% and 9.6%, respectively, and Samsung (SSNLF) with a share of 6.8%.
Huawei was the fastest-growing wearables manufacturer with shipment growth of 248.5% YoY in the fourth quarter. Samsung and Xiaomi followed at 105.6% and 43.3%, respectively.