Xiaomi is now the third-largest vendor in the wearable segment. That's based on IDC's sales figures for Q3 2015, which see Xiaomi selling 3.7 million units of its $15 Mi Band. The Chinese vendor now has a 17.4 percent market share in the segment, witnessing a growth of an astounding 815 percent from the same period a year ago.

Fitbit continues to be the largest wearable manufacturer with a 22.2 percent market share and sales of 4.7 million units. Fitbit benefitted from its corporate orders, which saw retailer buy 355,000 fitness trackers for its employees. Apple came in at second place with 3.9 million sales and a market share of 18.6 percent. Meanwhile, Samsung has seen a decline and is now in sixth place, after managing only 600,000 sales last quarter. The South Korean vendor will be looking to turn things around with the Gear S2.

Although Xiaomi has climbed to top spot, its sales are dominated by the entry-level Mi Band, which does not leave a lot of room for margins. It will be interesting to see where Xiaomi ranks in terms of revenue made in the wearable segment.

Source: IDC