Broadcasting
Global Wearable Market Grows by 7.7% as Apple Leads Fitbit, others at Smartwatch Market
The worldwide smartwatch market has continued its upward trajectory in both the fourth quarter (4Q17) and full year 2017 with total shipment volumes reaching new records.
Thanks to a surge in smartwatch shipment volumes, Apple moved past competitors Fitbit and Xiaomi to claim overall leadership for both the quarter and the year.
According to data from the International Data Corporation (IDC) Worldwide Quarterly Wearable Device Tracker, total volumes for the quarter reached 37.9 million units, up 7.7% from the 35.2 million units shipped in the same quarter a year ago.
For the full year, total wearable device shipments reached 115.4 million units, up 10.3% from the 104.6 million units shipped in 2016.
Ramon T. Llamas, research director for IDC’s Wearables team. said “The 10.3% year-over-year growth in 2017 is a marked decline from the 27.3% growth we saw in 2016,
“The slowdown is not due to a lack of interest – far from it. Instead, we saw numerous vendors, relying on older models, exit the market altogether.
“At the same time, the remaining vendors – including multiple start-ups – have not only replaced them, but with devices, features, and services that have helped make wearables more integral in people’s lives.
Going forward, the next generation of wearables will make the ones we saw as recently as 2016 look quaint.”
Apple, meanwhile, suddenly finds itself atop the wearables market. “Interest in smartwatches continues to grow and Apple is well-positioned to capture demand,”
“User tastes have become more sophisticated over the past several quarters and Apple pounced on the demand for cellular connectivity and streaming multimedia.
“What will bear close observation is how Apple will iterate upon these and how the competition chooses to keep pace.” Llamas added.
Jitesh Ubrani senior research analyst for IDC Mobile Device Trackers said “Although prices for individual products has slowly declined, consumer preferences have shifted to more sophisticated devices and towards well recognized brands.
It’s due to this that the wearables market has seen healthy double-digit growth in average selling prices since 2016,”
“Combined with the potential to sell added software and services, wearables are proving to be an increasingly lucrative market for brands and service providers.”
Top Five Wearables Companies in 4Q17 and 4Q17 was the first quarter that Apple held the market leader position all to itself after spending several quarters close behind Fitbit or Xiaomi.
Apple is catching the market at the right time with many users of basic wearables moving on to smartwatches and cellular connectivity (available on select Series 3 Watches) is earning a warm reception among end users, if only for the convenience of leaving their smartphone behind.
The late-year push of 8.0 million units separated Apple from the competition to emerge as the overall leader of the wearables market for the year.
Fitbit continued its transformation in 4Q17 with broader distribution and promotion of its Ionic smartwatch and continued application development for its Fitbit OS platform.
At the same time, the company took multiple steps to deepen its reach in healthcare, including partnerships with Dexcom and United Healthcare and participation in the FDA’s precertification program and the National Institutes of Health’s Precision Medicine Research Program.
Combined with its deep selection of fitness trackers, Fitbit is laying down the foundation for a virtuous cycle involving its own devices and digital healthcare.
Xiaomi posted a slight decrease in shipments, once again relying on its aging MiBand 2 to account for the majority of its volume worldwide.
Still, during the year, Xiaomi introduced a follow-up version, the MiBand HRX; smart footwear dubbed Mijia Smart Shoes; and its second kids’ watch, the Mitu Kids’ Watch 2.
While the company enjoys its spot among the leading companies, its focus still remains within its home region of China with less than 15% of its volumes heading elsewhere.
Garmin posted a slight increase from a year ago. Like Fitbit, Garmin relies heavily on its fitness tracker product line and its vivo-branded products helped push its basic wearables selection back above the one million units mark for the quarter.
Meanwhile, its smart wearables – driven by its vivo-branded and high-end Fenix-branded smartwatches – came closer to breaking the one million units mark for the first time, and growing faster than its basic wearables product line.
Huawei managed to have the largest growth amongst the top 5 as its recent third generation wrist bands have continued to gain popularity in China and helped the company become the number two wearables marker within the country.
However, the focus on China has been somewhat detrimental as shipments of the company’s wearables declined by 2% in other markets, making it even more difficult for Huawei to become a worldwide brand.
Lagos State Electricity Regulatory Commission (LASERC) has issued a new directive establishing a formal regulatory framework for electricity market operations within Lagos.
With the release of Order No. LASERC ORDER/001/2025, the commission finalizes the shift of oversight from the Nigerian Electricity Regulatory Commission (NERC) to LASERC, aligning with the Electricity Act 2023 and Lagos State Electricity Law 2024.
Under the new regulations, individuals or entities involved in electricity-related activities in Lagos must obtain a license or permit from LASERC. Licenses issued by other regulatory bodies will no longer be recognized. Unlicensed operators must immediately halt operations and apply for proper authorization to avoid penalties, which include a fine of ₦20 million and additional daily fines of ₦20,000 for continued violations.
LASERC has encouraged entities unsure of their regulatory status to seek clarification to prevent sanctions. Despite the transition, existing national guidelines, including tariff structures, grid codes, and safety regulations, will remain in effect unless amended.
Dr. Fouad Animashaun, CEO and Executive Commissioner of LASERC, emphasized that the order is designed to ensure a secure, efficient, and reliable electricity market in Lagos.
He reiterated the commission’s commitment to global standards and safeguarding the interests of electricity consumers and investors.
This policy marks a significant shift in the state’s power sector and aims to enhance regulatory compliance while ensuring a more structured and effective electricity market.
Video entertainment company MultiChoice’s woes are persisting with the company continuing to suffer massive losses in revenue and subscribers.
This emerged today when the DStv parent company announced its financial results for the year ended 31 March (FY25).
In a statement to shareholders on the Stock Exchange News Service, the JSE-listed firm says the past two financial years have been a period of significant financial disruption for economies, corporates and consumers across sub-Saharan Africa due to challenging macro-economic factors.
Combined with the impact of structural industry changes in video entertainment such as the rise of piracy, streaming services and social media, this has materially affected the overall performance of the MultiChoice Group, it notes.
Over this period, MultiChoice says the group lost 2.8 million active linear subscribers and had to absorb a R10.2 billion negative impact on its topline due to local currency depreciation against the US dollar.
For the year ended 31 March, the company reveals that linear subscribers were down 1.2 million or 8% year-on-year (YoY) to 14.5 million active subscribers, with the loss evenly split between South African (600 000) and Rest of Africa (600 000).
Although reflecting an improvement on FY24 trends, MultiChoice says this indicates ongoing broad-based pressure across the group’s entire customer base.
Active paying Showmax subscribers were up 44% YoY, reflecting healthy growth and gaining regional market share, it adds.
Group revenue declined by R5.2 billion or 9% YoY to R50.8 billion, mainly due to an 11% decline in subscription revenues (-1% organic) caused by foreign currency and subscriber volume headwinds and the deconsolidation of the NMSIS insurance business from December 2024, it explains.
According to the firm, this was partially offset by inflationary pricing and new product growth (DStv Internet, DStv Stream and Extra Stream).
Trading profit, which declined by R3.8 billion or 49% YoY to R4 billion, was materially affected by the R2.3 billion organic increase in trading losses in Showmax and the R5.2 billion in foreign currency revenue losses, partially offset by a significant outperformance in delivering total cost savings of R3.7 billion.
Adjusted core headline earnings, the board’s revised measure of the underlying performance of the business, shifted to a loss of R800 million (FY24: earnings of R1.3 billion) due to lower trading profit and hedging losses in FY25 (compared to gains in FY24), partially offset by smaller losses on cash remittances from Nigeria.
The group incurred a free cash outflow of R500 million in FY25 (FY24: inflow of R600 million), impacted by lower profitability, higher lease repayments due to timing and partially offset by improved working capital management as well as a 29% YoY decline in capex.
At year-end, the group held R5.1 billion in cash and cash equivalents and retains access to R3 billion in undrawn general borrowing facilities.
A part of the R12 billion term loan was repaid early by using the R900 million upfront proceeds from the NMSIS transaction (ie R1.2 billion, net of tax), says the company.
The group operates in numerous markets across Africa and internationally, resulting in significant exposure to foreign exchange volatility.
Amid the challenges, MultiChoice states that management acted decisively to ensure that the group could withstand these headwinds, focusing on key areas within its control.
It notes that this has meant maintaining a discipline of inflationary pricing, with price increases of 5.7% in South Africa in FY25 (FY24: 5.6%) and an average of 31% in local currency in Rest of Africa (FY24: 27%), which enabled the group to offset subscriber volume pressures and deliver 1% YoY organic revenue growth in the current financial year.
In addition, further efficiencies were implemented to manage costs and cash flows without unduly sacrificing the group’s customer value proposition, it adds.
In this regard, the group delivered R3.7 billion in cost savings, well ahead of management’s initial R2 billion target (and the revised R2.5 billion target set at interims) and almost double the R1.9 billion saved in FY24, the company says.
Afia TV & Radio has announced its official entry into the Lagos media market, in its commitment to expanding the broadcaster’s footprint, connecting businesses to audiences across Nigeria, and redefining regional media excellence.
Chief Emeka Mba,
Nnamdi Obanya, general manager of Afia TV & Radio, said there is only one digital satellite and one digital station in the southeastern region of Nigeria, which is Afia.
Obanya, stated that: “We are specialists in developing products. A programme on our channel, ‘How Market’, is where we talk to the people in the market to tell their stories and advertise their products on AFIA.”
According to him, “the market world has changed a lot, as the physical market has become a ware house while people are buying digitally.”
Chief Emeka Mba, founder and CEO, stated: “The parley brought together top media buyers, advertising agencies, and communication professionals for engaging conversations around emerging trends, innovation, and future-forward strategies in media planning and buying. The event also served as a platform for Afia TV and radio to unveil its offerings, platforms, and unique value proposition to Lagos-based stakeholders.”
While noting that they are thrilled to bring Afia’s fresh, original, and regional perspective to Lagos, Mba said, “this parley signals our readiness to collaborate, innovate, and deliver impactful results for our partners through data-driven content and targeted reach especially for brands looking to penetrate the southern Nigerian market.”
Equipped with modern broadcast studios, digital-first production capabilities, and a highly experienced team, Afia TV & Radio is poised to make a bold impression on the Lagos media landscape.
The media brand delivers high-quality programming ranging from news and documentaries to lifestyle, business, culture, and entertainment only in south-east but in Lagos, African and beyond, we want to be chief marketing platform of the eastern region, we are the only 24/7 radio station now in Enugu.
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