Dec 5, 2018
What happened: Xiaomi sold more units of smart wearable devices than any other company in the world in the third quarter of 2018, grabbing more than 21% of market share. According to the International Data Corporation, Xiaomi shipped 6.9 million units in Q3, well ahead of US smartphone maker Apple, which sold 4.2 million devices.
Why itâs important: Xiaomiâs fast-growing sales owe much to its popular fitness tracker, the Mi Band 3, and the companyâs growing presence overseas. The Chinese electronics manufacturer has been striving to expand beyond its home turf into lucrative markets including India, Europe, theÂ Middle East,Â and Africa. The global shipments of wearable devices have grown significantly over the course of this year, reaching 32Â million unitsÂ in the third quarterâup nearly 22% from the previous year.