During the first quarter of this year, and before the release of the Apple watch, Fitbit saw major year-on-year volume growth, while greatly increased shipments of the affordable Mi Band, predominantly in China, secured Xiaomi second place. Garmin also had a strong quarter and rolled out two new products in its vívo line, according to data released by Canalys.

The wearable band market grew over 150% as more than 7 million units were shipped in the first quarter of 2015, the research firm said.

Canalys forecasts that 20 million Apple Watches will be shipped in 2015. "Despite the Apple Watch requiring an iPhone, Apple’s impending entrance in Q2 had a negative impact on vendors such as Samsung. Discounting has been used to clear inventory in the channel," said VP and Principal Analyst Chris Jones. "The Apple Watch has set the benchmark for other smart watches and will make up the majority of shipments this year."