This is certainly not good news for Fitbit. In the same period last year, Fitbit successfully became the number one wearable manufacturer and controlled nearly 29 percent of the global market share. At that time, Xiaomi and Apple were under Fitbit with 15 percent and 9 percent market share.
However, as Engadget mentioned, in just over a year, Fitbit's market share fell to less than 16 percent. Xiaomi's market share rose to 17 percent. In addition to the decline in market share, Fitbit also has to face the demands.
Prior to this, Fitbit also had to lay off 110 employees in its effort to reduce the company's operational costs. While their smartwatch project is still having problems. When Fitbit encounters problems, Xiaomi comes wear weary which also focus on fitness function with affordable price.
Another case with Apple, who chose to provide wearable with extra functionality. In the first quarter of this year, Apple's wearable sales were more than Fitbit and Xiaomi. Apple will probably be able to beat Xiaomi once they launch Apple Watch Series 3.
"Apple is now losing out to Xiaomi because they have no products in the fitnessband subcategory. However, if the rumored Watch Series 3 features a sophisticated health tracking appealed to the public, then Apple will be able to win its position as the largest wearable manufacturer, "said Strategy Analytics Director Cliff Raskind in an official statement.