uploads///

Fitbit Continues to Lose Share in the Global Wearables Market

By

Apr. 9 2019, Published 1:35 p.m. ET

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.

Ready to put your morning scrolling to use? Sign up for Bagels & Stox, our witty take on the top market and investment news straight to your inbox! Whether you’re a serious investor or just want to be informed, Bagels & Stox will be your favorite email.

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.

Article continues below advertisement

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.

Advertisement

More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo
    Do Not Sell My Personal Information

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.