Recently, Apple Watch Series 5 has been released, and it has attracted wide attention.
According to the report of Counterpoint Research, the market share of Apple Watch accounts for one third in the global market, followed by Android smartwatches.
According to the report, Xiaomi is developing a smartwatch which will run Google Wear OS. In Wear OS 2.28, there is Mi Wear. It is quite confusing.
Since Xiaomi has got Huami dedicated to smartwatches in its ecosystem, why does it develop smartwatches? The competition in the smartwatch market is fierce now, why does it choose to enter the contest? Faced with strong competitors, what advantages does Xiaomi has by developing smartwatches?
Xiaomi has filed a trademark application for “Xiaomi Watch COLOR.” According to a digital blogger, the watch will be available in two variants. One will have a square display like Apple Watch; the other will have a round display, like most Android smartwatches.
Both will be equipped with NFC, priced under $150. They are expected to be launched in October.
Although Apple has released Apple Watch Series 5, it doesn’t include the function of sleep monitoring. Instead, some Apps added to the Retina display include Compass, Cycle Tracking, Activity Trends, etc. The updates of the Apple Watch Series 5 are so limited that they aren’t worth reviewing.
Apple Watch Series 5 failed to achieve perfection, whereas Xiaomi can learn a lesson to make improvements. In other words, Xiaomi can provide ECG and health monitoring function for more people.
Since Apple focuses on rich people, its products are expensive, discouraging most people who want to use the Apple Watch. Xiaomi might take advantage of the cost-performance ratio, and it’s likely to surpass Apple, being the new dominant brand in the smartwatch market.
In China, the biggest competitor of Xiaomi Watch is none other than Huawei, because the market share of Huawei Watch ranks 6th, following Huami.
Huawei has many smartwatches with most functions on Xiaom Mi band for within 700 - 1500 yuan (about $99 to $215). If Xiaomi wants to gain more market share, it should develop something new and lower the price.
In the international market, Fitbit is also a potent competitor for Xiaomi Watch, with the 3rd largest market share. Fitbit smartwatches provide functions similar to Huawei Watch for nearly the same price.
Xiaomi Mi Band International Version might serve as the light tower for its entrance to the market because of the low price. Gradually, Xiaomi Watch will cater to a more diverse user base.