Xiaomi, Apple tie as global top vendors of smartwatches, fitness bands in Q3 2024 –Canalys

TL;DR: Canalys’ latest market report showed that Xiaomi tied with Apple as top wearable vendors globally in Q3 of 2024. Both companies captured 16.1% market share and an estimated 8.5 million shipments.

Canalys’ latest market report showed that Xiaomi tied with Apple as top wearable vendors globally in Q3 of 2024.
Both companies captured 16.1% market share and an estimated 8.5 million shipments.
However, while Apple dipped in terms of year-on-year (YoY) growth at -3.6%, Xiaomi gained an impressive 37.3% annual growth.
While Samsung ranked fourth (9.1% share, 4.8 million shipments); and Noise concluding the top five with 4.7% share and 2.5 million units shipped.
“The adoption of AMOLED displays and advanced tracking features has revitalized the basic wearable band market,” added Leathem.

Canalys’ latest market report showed that Xiaomi tied with Apple as top wearable vendors globally in Q3 of 2024.

Both companies captured 16.1% market share and an estimated 8.5 million shipments.

However, while Apple dipped in terms of year-on-year (YoY) growth at -3.6%, Xiaomi gained an impressive 37.3% annual growth.

According to Canalys, Xiaomi’s sales were driven by strong demand for the Mi Band 9 and the Redmi Watch 5 Series.

“These diversified offerings enable Xiaomi to target multiple price segments, helping to capture a larger market share,” said Jack Leathem, Research Analyst at Canalys.

Coming in third is Huawei with 13.5% share and 7.1 million units shipped. While Samsung ranked fourth (9.1% share, 4.8 million shipments); and Noise concluding the top five with 4.7% share and 2.5 million units shipped.

Furthermore, data shows that the majority of consumers consistently prefer basic entry-level watches.