Xiaomi has taken Apple's spot at the top as the number 1 seller of wearable bands in the second quarter of 2021.
Canalys, a rather renowned technology market analysis firm, was the source of this report. Researchers at the firm write and publish reports about tech company and their assets for each quarter of the year. Q2 ended up being a very interesting quarter for wearable bands, simply because Xiaomi overtook top dog Apple, scoring a very clean first place on the podium. The preceding tech giant had held this position for quite a few years on end, making this a very special occasion indeed. But how did Xiaomi overtake Apple? And what does this spell for the latter's sales and company model? Let's take a look.
Maslow's hierarchy of needs states that before aesthetic demands, a sentient being requires other more basic living requirements to be fulfilled. Luckily for us, in the 21st century, we're way past Maslow's first requirement of living. Since brand products need to offer aesthetic pleasure and change to the wearer, smartphone companies have actively dedicated themselves to bring about such change. At the forefront, as always, is Apple. The multi-billion dollar company dedicates itself to the concept that a phone can be stylish as well. And while its phones don't always sell the most as compared to customers, a combination of good product design and killer advertising leads to Apple being recognized as the technology juggernaut that it is.
So, what changed? Why did Xiaomi suddenly make it to the top? Well, the matter, as all of see things to be, probably has to do with money. The reason that Apple and its series of Apple Watches, while incredibly expensive, were the best made in the business. This, and the fact that devices such as Fit Bits are also expensive, meant that people would naturally gravitate towards spending a few extra bucks on the better product with the more well-known brand name. But as time progressed, and technology caught up, companies such as Xiaomi developed not only multiple affordable wearable bands, but also made an assortment of them, a different types, thus creating a sense of market diversity. Ultimately, this is probably what pushed Xiaomi over the line, selling approximately 8 million bands, for a 19.6% share of the market.
However, it should be noted that when it comes to solely smart watches, Apple still leads the market at a 31.1% share of the market. It is only with broadening our horizons to the likes of activity trackers and miscellaneous bands do other companies stand a chance.
Read next: Apple’s Market Share Continues to Plummet Despite Impending iPhone 13 Launch
Canalys, a rather renowned technology market analysis firm, was the source of this report. Researchers at the firm write and publish reports about tech company and their assets for each quarter of the year. Q2 ended up being a very interesting quarter for wearable bands, simply because Xiaomi overtook top dog Apple, scoring a very clean first place on the podium. The preceding tech giant had held this position for quite a few years on end, making this a very special occasion indeed. But how did Xiaomi overtake Apple? And what does this spell for the latter's sales and company model? Let's take a look.
Maslow's hierarchy of needs states that before aesthetic demands, a sentient being requires other more basic living requirements to be fulfilled. Luckily for us, in the 21st century, we're way past Maslow's first requirement of living. Since brand products need to offer aesthetic pleasure and change to the wearer, smartphone companies have actively dedicated themselves to bring about such change. At the forefront, as always, is Apple. The multi-billion dollar company dedicates itself to the concept that a phone can be stylish as well. And while its phones don't always sell the most as compared to customers, a combination of good product design and killer advertising leads to Apple being recognized as the technology juggernaut that it is.
So, what changed? Why did Xiaomi suddenly make it to the top? Well, the matter, as all of see things to be, probably has to do with money. The reason that Apple and its series of Apple Watches, while incredibly expensive, were the best made in the business. This, and the fact that devices such as Fit Bits are also expensive, meant that people would naturally gravitate towards spending a few extra bucks on the better product with the more well-known brand name. But as time progressed, and technology caught up, companies such as Xiaomi developed not only multiple affordable wearable bands, but also made an assortment of them, a different types, thus creating a sense of market diversity. Ultimately, this is probably what pushed Xiaomi over the line, selling approximately 8 million bands, for a 19.6% share of the market.
However, it should be noted that when it comes to solely smart watches, Apple still leads the market at a 31.1% share of the market. It is only with broadening our horizons to the likes of activity trackers and miscellaneous bands do other companies stand a chance.
