New Cheaper Wearable Devices Launched By Fitbit Inc (NYSE:FIT)

0

Wearable devices maker Fitbit Inc (NYSE:FIT) has unveiled a cheaper smartwatch meant to appeal to the masses. The wearables firm also launched an activity-tracking wearable for kids. Though the devices will hit stores in Q2, they can be pre-ordered.

Fitbit’s mass market smartwatch is known as Versa and has many of the features that came with Ionic, which was launched last year. While Fitbit Ionic which is GPS-enabled comes at a price of $299.95, the cost of Versa is $199.95. There is also a special edition of Versa which comes at a price of $229.95 and includes features such as contactless payments.

Fitness market

Compared to Apple Inc. (NASDAQ:AAPL) Apple Watch Series 3 which costs $329, the price point of Versa makes it attractive. The Apple Watch Series 3 is however richer in features as it has cellular connectivity among other capabilities. According to the chief executive officer of Fitbit, James Park, the lower cost of Versa will make it attractive to those interested in fitness wearables.

Several new features have also been announced by Fitbit and this includes period-tracking aimed at women. Some of these features will also be made available to the Ionic smartwatch through software updates. Fitbit is hoping that the features aimed at women will change the perception that smartwatches are a male product.

Female appeal

Currently men comprise about 60% of the users of smartwatches are men. In this effort the Versa has been made with a rounder design and a softer color palette in order to appeal to women. It will also be possible for users of Versa whose smartphones run on Alphabet Inc (NASDAQ:GOOGL) Android to reply to text messages from their smartwatches.

Fitbit’s activity tracker for kids is named Fitbit Ace and costs $99 a piece. The tracker however lacks GPS capabilities. According to Park the device will address concerns of parents who think their kids are not getting adequate physical activity.

“There’s a lot of press today about the negative aspects of screen time … We can use technology to get things away from that,” said Park.

On Tuesday shares of Fitbit Inc rose by 1.51% to close the day at $5.39 per share.

LEAVE A REPLY

Please enter your comment!
Please enter your name here