In the third quarter of 2017, the global wearable device market saw a shipment of 26.3 million units, showing a modest 7.3% growth compared to the same period in 2016. This quarter marked a shift in the competitive landscape, with Xiaomi and Fitbit sharing the top spot, while Samsung failed to make it into the top five for the second consecutive quarter. Huawei's market share dropped slightly to 4.9%, signaling a tough quarter for the Chinese tech giant. According to IDC data, Xiaomi had previously taken over the leadership from Fitbit in Q1 2017, maintaining its position through Q2, and even though Fitbit managed to regain some ground in Q3, it still couldn’t surpass Xiaomi. For years, Fitbit had been the clear leader in the wearable space, but its dominance is now being challenged by more diversified players like Xiaomi. The market threshold for entering the top five remains at 1 million units, which means even small declines in shipments can push companies out of the rankings. Xiaomi’s share dipped slightly from 15.2% to 13.7% due to a drop of 100,000 units. However, the company continues to expand its product portfolio, including smart shoes, and focuses heavily on the Chinese market. Fitbit, on the other hand, saw its market share fall sharply from 21.9% to 13.7%, with a significant drop in shipments—down 1.8 million units. The company is in a transitional phase, having recently launched its first smartwatch, but its performance has continued to decline for four quarters in a row. Apple, meanwhile, saw a 3.0 percentage point increase in market share, driven by strong sales of the Apple Watch Series 1 and 2, with the new Series 3 helping to maintain momentum. Consumers still show interest in smartwatches that offer more than just fitness tracking. Huawei improved its standing, increasing its share by 3.5 percentage points to 6.0%, while Garmin slipped slightly to 4.9%. The market is clearly evolving, with different strategies emerging between basic wearables and multi-functional smart devices. IDC analyst Ramon Llamas noted in the report: “Smart and basic wearable devices are following different development paths, highlighting the ongoing evolution of the wearable market. While early leaders like Fitbit, Xiaomi, and Huawei laid the groundwork, consumer preferences are shifting toward more versatile devices such as smartwatches from Apple, Fossil, and Samsung. Manufacturers now find themselves at a crossroads, needing to adapt quickly to capture growth opportunities and user attention.” Overall, the wearable market is still in its early stages, with many companies experimenting with different product forms—from fashion accessories to smartphone alternatives. Behind the scenes, these devices collect vast amounts of data, suggesting huge potential. However, this also makes consumers more cautious about adopting new technology. As the market matures, only those who can truly meet user needs will succeed.

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