Fitness giants Fitbit has recently announced their next venture on smart watches, as according to CEO James Park, the company hopes to release the accessory “ahead of the holiday season.” As this announcement is made on company Q2 2017 earnings event. Fitness market has become tougher than ever as companies like Apple are already ruling this marker by Apple Watch and Android Manufacturers also made some remarkable smartwatches to the market so companies like Fitbit has tough competition. Many other brands have already exited fitness band segment but companies like Fitbit and Garmin are still present.
Fitbit Plans To Introduce New Smartwatch
Park doesn’t tell us about the device or details regarding its new smartwatch, though Park did talk a big game. He believes that Smartwatch will deliver the best health and fitness experience in the category. Fitbit believes that their smartwatch game will help the company to stand up in next half of the year.
“We are executing according to our transition plan and have increased confidence in achieving our full year results,” said co-founder and CEO James Park.
“Our smartwatch, which we believe will deliver the best health and fitness experience in the category, is on track for delivery ahead of the holiday season and will drive a strong second half of the year. In the long term, we are confident in our vision for the future and are uniquely positioned to succeed by leveraging our brand, community, and data to drive positive health outcomes.”
There should be some compelling feature in upcoming Fitbit smartwatch as many brands already tried to make different style smart watches but none of them got success like Apple or Android, as companies have their own interface and smartphone which made interaction between smartwatch and smartphone seamless but smartwatch from Fitbit may lack this feature but Fitbit may go for Android interface in their upcoming fitness smartwatch which could help Fitbit to achieve more than expectation.
As we talk about Fitbit profit this year they have sold over 3.4 million devices in the second quarter, up 14 percent sequentially for $353 million in revenue despite this company failed to earn the profit as they reported a net loss of $58.2 million.
Fitbit next step is one and only savior for the company so they could earn the profit in the next quarter or they’ll lose their company. Apple has stolen many titles from Fitbit like World Top Vendor for wearables and more. It is very interesting to see how Fitbit next smartwatch competes with existing market smart watches until then good bye and stay connected.