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Global Wearable Markets Jump 26.1% In Q2; Fitbit Retains Lead While Apple Sinks

Apple Inc. NASDAQ:AAPL, Fitbit Inc NYSE:FIT - Global Wearable Markets Jump 26.1% In Q2; Fitbit Retains Lead While Apple Sinks

Wearable device shipments jumped 26.1 percent to reach 22.5 million in the second quarter of the current year, according to IDC. The growth came amid Apple Inc AAPL 2.26%'s 56.7 percent year-over-year drop in unit shipments, while Fitbit Inc FIT 1.02% retains its lead with 28.7 percent year-over-year growth.

IDC divided the wearables into two categories: basic and smart wearables. While basic wearables delivered 48.8 percent jump on a year-over-year basis, smart wearables witnessed a year-over-year drop of 27.2 percent.

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The research firm's research manager for wearables, Ramon Llamas, said, "Basic wearables, which include most fitness trackers, have benefited from a combination of factors: a clear value proposition for end-users, an abundant selection of devices from multiple vendors, and affordable price points."

The Top 3

Among the top five, Fitbit shipped 5.7 million units and boosted its market share from 24.9 percent to 25.4 percent and retained the leadership position. The second position is filled by Xiaomi with 3.1-million-unit shipment recording 2.5 year-over-year growth. As a result, its share dipped from 17.2 percent to 14.0 percent.

The third position is held by Apple, despite witnessing 56.7 percent drop in unit shipment to 1.6 million. Its market share plunged from 20.3 percent to 7.0 percent in the wearable segment.

The fourth position is occupied by Garmin Ltd. GRMN 3.03% more than doubling its shipment to 1.6 million units in the second quarter. As a result, its market share advanced from 4.2 percent to 6.9 percent.

At Time Of Writing ...

  • Apple was down 0.15 percent at $107.57.
  • Fitbit was trading at $15.20, up 1.71 percent.
  • Garmin shares were up 0.43 percent at $48.96.

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DateFirmActionFromTo
Sep 2016MacquarieMaintainsOutperform
Sep 2016Pacific Crest MaintainsOutperform
Sep 2016William BlairMaintainsOutperform

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