Less than a year after moving into wearables, China’s fast-rising Xiaomi emerged as the world’s second largest maker of wearable devices in Q1.
It shipped 2.8 million units during the quarter compared to Fitbit’s four million, according to IDC.
Xiaomi, better known for its smartphones, accounted for nearly a quarter of the 11.4 million wearables shipped in Q1 — a 200 per cent increase from a year ago.
Its Mi Band smart fitness bracelet, which was launched in the second half of last year, retails for CNY79 ($13) in China.
In April Xiaomi and Alibaba’s finance arm Alipay announced they were partnering to allow payments via wearable devices. The Mi Band will link with Alipay Wallet’s mobile app to enable users to make payments without the need for passwords.
Xiaomi, the fifth largest smartphone maker in the world, has focused almost entirely on the Chinese market but has turned its attention overseas recently, and recently announced ambitious plans in India.
The company said it plans to sell 100 million smartphones this year as it expands outside of China. Its global market share jumped from 2 per cent to 5.1 per cent in Q4, according to Gartner.