Apple and Xiaomi are tied for the top spot in the world market for fitness bands and smartwatches in Q3 2024, according to Canalys

A tight race for the top spot: Xiaomi and Apple tied as the leading wearable vendors in Q3 2024, both claiming 16.1% market share.

Xiaomi, on the other hand, acquired an incredible 37.3% yearly increase, while Apple saw a decline in year-over-year (YoY) growth of -3.6%.

“These diversified offerings enable Xiaomi to target multiple price segments, helping to capture a larger market share,” said Jack Leathem, Research Analyst at Canalys.

Xiaomi's strategic approach of offering a diverse range of wearable devices at various price points has paid off. The company's strong performance, driven by the popular Mi Band 9 and Redmi Watch 5 Series, has led to a tie with Apple for the top spot in the global wearable market.

With 7.1 million units shipped and a 13.5% market share, Huawei comes in third. Noise finished the top five with a 4.7% share and 2.5 million delivered, while Samsung came in fourth place with a 9.1% share and 4.8 million shipments.

“The adoption of AMOLED displays and advanced tracking features has revitalized the basic wearable band market,” added Leathem.