Global wearables market size is growing rapidly. According to IDC, 21 million wearable devices were shipped around the world in third quarter of 2015. The overall market for the wearables almost tripled during this period compared to last year.
We have also seen new players to enter the market. Apple debuted Apple Watch and Xiaomi is competing with its low cost Mi Band.
However, Fitbit has maintained the lead in the global wearables market in the third quarter of 2015, shipping 4.7 million units between July and September, a growth rate of more than 100 percent over last year's third quarter.
The maker of fitness tracking devices has been focusing on functionality of devices and it seems its product focus is paying off well. The company also effectively used its strategy to market its products to large corporations as part of corporate health initiatives.
Takeaways:
Apple: Apple sold 3.9 million watches in third quarter, a slight uptick from the 3.6 million units it shipped in its first quarter. Apple watch is just a little older than two quarters.
Xiaomi: Continues to impress with its low price Mi Band. Though largely confined in China, the startup almost closed the gap with Apple.
