Fitbit announced last night a new competitor for Apple Watch, being named by the company as the best smartwatch for fitness. Although Fitbit is going through a bad period from a financial and sales point of view, the company is still preparing a new product with which it hopes to regain some of the market share lost to the Apple Watch in the last 2 years.
Fitbit announced, through its president, that the new smartwatch will be launched by the beginning of the winter holiday season, so theoretically somewhere by the beginning of December. The president of Fitbit claims that the new smartwatch will offer the best experiences for monitoring health and fitness exercises among all similar products on the market, but it remains to be seen if reality will live up to expectations.
In Q2 2017, Fitbit recorded sales of 3.4 million products with revenues of 353 million dollars and losses of 58.2 million dollars. Although sales increased by 14% compared to Q1 2017, the lack of profit could be a cause for concern for investors and analysts, and this is because the Apple Watch generates increasing competition, its sales increasing by 50% compared to Q2 2016.
Fitbit bought the Romanian company Vector Watch just a few months ago, and the new smartwatch could be based on its functions. Of course, until the moment of the presentation, we will not know exactly what surprises it will bring, but most likely it will be a very interesting product.
"We are executing according to our transition plan and have increased confidence in achieving our full year results. 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."
