The new Apple Watch Series 4 is packed with personal health features like heart-monitoring and fall-detection. The Apple Watch Series 4 will be available in stores September 21st.
The iPhone maker is reshaping the wearables market at Fitbit’s expense.
Worldwide wearables shipments grew 5.5 percent annually to 27.9 million during the second quarter, according to research firm IDC. A higher mix of pricier smartwatches boosted the segment’s dollar value by 8.3 percent to $4.8 billion.
Apple(NASDAQ: AAPL) retained its position as the market leader, thanks to strong demand for its LTE-enabled Apple Watch, according to IDC. The recent introduction of watchOS 5 and the launch of the Apple Watch 4 this week could widen that lead.
Xiaomi(NASDAQOTH: XIACY) (NASDAQOTH: XIACF)(SEHK: 1810) continued to dominate the low-end market with its Mi Band devices, which cost less than $30. The company also recently diversified its portfolio with children’s smartwatches and shoes.
Fitbit(NYSE: FIT), which lost its crown to Apple last year, continues to lose market share due to waning demand for basic and midrange fitness trackers. It was also the only market leader to post a year-over-year drop in shipments. However, IDC said that Fitbit’s Versa smartwatch was still the world’s “second largest smartwatch brand” with 1.1 million units shipped.
There’s still plenty of room for all these companies to grow – IDC expects wearable shipments to rise from 124.9 million this year to 199.8 million by 2022.
Leo Sun owns shares of Apple. The Motley Fool owns shares of and recommends Apple and Fitbit. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has a disclosure policy.
The Motley Fool is a USA TODAY content partner offering financial news, analysis and commentary designed to help people take control of their financial lives. Its content is produced independently of USA TODAY.
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