(Yicai Global) June 3 -- Chinese hardware and software maker Xiaomi led the world in smart wrist-wearable sales throughout the first quarter, according to data from market researcher IDC.
The Beijing-based firm sold 5.3 million wristbands, up 43.6 percent on the year, IDC's report shows. Apple came in second after shipments rose 14.8 percent to 4.6 million, while Xiaomi's compatriot Huawei shifted 3.9 million to come in third.
The good news has done little for Xiaomi's waning share price. Stock in the company [HKG:1810] has been gradually fading since late April and lost 5.11 percent in trading today to slump to HKD9.09 (USD1.16) -- far below its HKD17 initial offering price from December 2018.
Global shipments of all types of wearables reached 49.6 million during the first three months, a 55.2 percent surge from a year earlier. Wrist-worn devices made up 63.2 percent but headphones grew the fastest, more than doubling to make up over a third of all units shipped.
Apple maintained its leading position with a 25.8 percent market share, comprising its Apple Watch, AirPods and Beats headphones. Xiaomi came second overall, capturing 13.3 percent of the market.
Editor: James Boynton