"Xiaomi OEM" staged a comeback! It became a hot seller after listing

With the advancement of technology, people's living habits are constantly changing. 3C products are becoming more and more popular and have become an important area for cross-border e-commerce to go overseas.

As a traditional strong category for Chinese sellers, 3C products are highly favored by overseas consumers.

With the promising prospects for 3C products, many domestic companies are relying on their product strength to penetrate into overseas markets and are experiencing rapid development.

Amazfit, which was once Xiaomi's OEM factory , has made a comeback and become a hot-selling product after its listing, and is accelerating in overseas markets.

From being Xiaomi's OEM to having its own popular brand, what has Huami Technology done?

Huami Technology, the company to which Amazfit belongs, was founded in 2013. It is a cloud-based health service provider with world-leading smart wearable technology. The company's main business is smart watches and smart bracelets, as well as sports and health-related sports peripheral products such as weight scales and body fat scales.

(Image source: Amazfit official WeChat account)

Huami Technology is an ecological chain enterprise of Xiaomi Technology, leading the development of hardware such as Xiaomi bracelets and smart watches.

Before Huami Technology was established, founder Huang Wang led the team to officially launch a smart watch product called zwatch. At that time, Xiaomi decided to invest in 100 smart hardware companies and layout the smart hardware market in the form of "investment + incubation". Xiaomi, which was building its ecological chain at the time, was very interested in Huang Wang's entrepreneurial project. So in December 2013, Xiaomi and Hefei Huaheng Electronics jointly established Huami Technology and began to invest in the research and development of Xiaomi wristbands.

With the help of high market demand and Xiaomi's marketing network , the shipment volume of Xiaomi Mi Band produced by Huami has soared rapidly. Only 13 months after the release of the first generation of Xiaomi Mi Band , the shipment volume exceeded 10 million. The high sales volume of Xiaomi Mi Band has also driven the continuous growth of Huami 's performance .

From 2016 to 2017, Huami Technology's revenue reached 1.556 billion yuan and 2.049 billion yuan respectively, of which 92.1% and 82.4% came from Xiaomi bracelets respectively.

In 2017, according to IDC statistics, the shipment volume of smart wearable products produced by Huami has surpassed that of Fitbit, a long-established American manufacturer, ranking first in the world.

In February 2018, Huami Technology officially landed on the New York Stock Exchange with the stock code "HMI" and an issue price of US$11, raising US$110 million. Huami Technology became the first Xiaomi ecological chain company to be listed in the United States, and also the first Chinese smart hardware innovation company to land in the US capital market.

In 2018, Huami Technology's revenue reached 3.645 billion yuan, and the Xiaomi bracelet contributed 59.7% of Huami's revenue that year.

Although the Xiaomi bracelet contributed very high revenue to Huami Technology in the early stages of the company's development, Huami was not content to be just a OEM factory behind Xiaomi.

As early as 2015, Huami Technology launched its own brand Amazfit, focusing on the development of smart watch products.

This year, Huami Technology held a launch conference for its new brand and new product, the Amazfit bracelet, in Beijing.

In March 2016, Amazfit Equator was officially launched, marking the first step for Huami to develop its own brand.

Amazon is Amazfit's first overseas expansion destination. Amazfit is committed to creating core best-selling products and conducting boutique operations on the Amazon platform. Initially, it only sold 8 products, but the praise rate reached more than 90%, and the average store star rating was 4.5.

After gaining a foothold on the Amazon platform, Amazfit quickly expanded to other platforms. In addition to Amazon, it successfully entered world-renowned e-commerce platforms such as Walmart and eBay, and built its own brand website.

Moreover, Amazfit also exposes its products through crowdfunding to increase brand awareness.

In 2020, Amazfit uploaded two products, the smart bracelet AmazfitX and the sleep earplugs Amazfit ZenBud, on Indiegogo, the world's largest platform for the launch and crowdfunding of innovative scientific and technological products. In the end, the smart bracelet AmazfitX received 11,681 supporters and raised 1.8922 million US dollars, and the sleep earplugs Amazfit ZenBud received 15,929 supporters and raised 1.37 million US dollars.

After years of development, Amazfit has entered more than 90 countries and regions around the world and has a community of more than 24 million users. The shipment volume of smart watches once ranked among the top three in the world, and even remained the top 1 in some European countries such as Spain for a long time.

Why are Amazfit products so popular among overseas consumers?

First of all, Amazfit's smartwatches are very cost-effective. The average price of Amazfit's mainstream products is generally no more than $250, and some general products are even priced lower, under $100, which is indeed more attractive compared to the price of Apple Watch. In terms of functions, Amazfit's smartwatches are not inferior. Not only do they have the common health monitoring functions and basic smart life functions of smartwatches, but they also have dozens of built-in sports modes and provide rich sports data to meet the wide needs of sports people.

Secondly, the appearance design of Amazfit's smartwatch is also quite fashionable, which meets the aesthetic requirements of young consumers. Simple lines, smooth curves, plus a variety of color options, different color matching will also adopt different processes and materials. The exquisite product design has attracted a large number of loyal fans at home and abroad.

Huami Technology develops its own chips and focuses on the field of big health!

It is worth mentioning that Huami Technology has always insisted on connecting health with technology and has devoted a lot of effort to technology research and development. It has the ability to organically combine hardware development and software experience based on chips, device terminals, and cloud technology, and has strong data acquisition and analysis capabilities .

On September 17, 2018, Huami officially released the world's first artificial intelligence chip "Huangshan No. 1" in the field of smart wearables, successfully upgrading Huami's "cloud + terminal" strategy to "cloud + terminal + chip", expanding the application scenarios of IoT.

Through the built-in RealBeats AI biological data engine algorithm, "Huangshan No. 1" can realize functions such as local recognition of biometric features, local real-time identification of ECG arrhythmia, and PPG arrhythmia.

On June 15, 2020, Huami Technology officially released its independently developed second-generation smart wearable chip "Huangshan 2" and the second-generation PPG bio-tracking optical sensor BioTracker 2.

On July 13, 2021, Huami Technology released the smart wearable chip "Huangshan 2S", the health-focused smart watch operating system ZEPP OS, the Pump Beats blood pressure engine for measuring blood pressure in 30 seconds, and portable MRI magnetic resonance imaging and other technologies, making efforts in the big health business.

In addition, Huami Technology has also cooperated with the American company Alivecor to expand the medical-grade electrocardiogram service market in developed countries in Europe and the United States.

Based on the expansion of product categories, Huami Technology has built a comprehensive "sports + health" ecosystem consisting of wearable terminals such as smart bracelets, smart watches, sports headphones, as well as treadmills, weight scales, body fat scales, etc. related to sports and health. It has successfully entered the health industry from smart hardware and has a bright future.

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