Xiaomi’s dedicated wearable company Huami has made some bold advancements in its short time of establishment. From China, it spread throughout the globe and has made footprints in a lot of markets and in Q1 2020, Huami, with its Amazfit line of products, has made into both the Top 5 in Global Watch Shipment and Market Share.
Known for its “value-for-money” smartwatches, Huami has grown very fast with the help of its parent company Xiaomi. In Q1 2020, the company has seen a major bump in its sales globally with a year-on-year (YoY) growth of 80.2%, although this market dipped by 7.1% overall in the same quarter, thanks to the COVID-19.
This is according to data from the International Data Corporation (IDC), Huami also ranked No. 1 by market share in markets like Indonesia, Italy, Spain and India. Now, Huami owns 58% share in Indonesia; 38% share in Italy; 24% share in Spain; 23% share in India.
Huami has also entered into the top 5, for the first time, in the US, the world’s largest single watch market. Apart from that, the company has also entered into the top 3 by shipment in Thailand the top 4 in Russia and the top 5 in Brazil, France, Germany, Poland and China.
Talking about its (unaudited) financial results for Q1 2020, Huami expects it to be around 1.088 billion yuan (US$153.7 million), which is around 36.1% increase from the first quarter of 2019. Huami’s total shipments reached 7.6 million, compared with 5.6 million in the first quarter of 2019.
Sources: Huami
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