Fitbit, the fitness-tracking company has today said in its second-quarter earnings report that its long-awaited smart watch would be ready in time for the holiday season. Fitbit was once the world’s top maker of smart wearable devices but have struggled in the market as its sales have seemingly stalled, having been overtaken by its major competitor, Apple.
The Chief Executive Officer of Fitbit James Park said the new device has lots of attributes that differentiates them from the competition out there. Although the CEO didn’t reveal a lot of details, but Fitbit says the about-to-be-released watches would have a multi-day battery life, GPS tracking, water resistance, a focus on lots of health and fitness functions including it being at a very “attractive”, yet undisclosed price. The company however hasn’t said exactly when it would begin shipping.
According to the CEO, “We have a firm vision of the future. Devices are means to an end.” It
In its report, Fitbit disclosed that their second-quarter revenue had dropped 40% to about $353.3 million in sales even though the earnings had beat the analyst expectations of $341.6 million. There were positives however because the shares of Fitbit, which had lost 63% over the past year, gained about 5% in after-hours trading.
It is also said that the upcoming device will run third-party apps which would be available to a limited number of select partners for the provision of the apps. According to Park, “It will be really exciting and interesting to see how the developer community, primarily initially from Pebble, reacts to the tools.” Park also thinks that developers are going to be surprised and excited by the ease of use and simplicity of the developer tools.
With Fitbit’s Charge 2 wearable being its most popular device at the moment, Fitbit has sold a total of 67 million devices to date.