Will Fitbit’s Latest Smartwatch Drive Revenues?
Fitbit’s smartwatch launched earlier this month
On September 13, 2017, Fitbit (FIT) launched its latest smartwatch, the Ionic, which includes heart-rate monitoring, personal coaching, and a built-in GPS (global positioning system). The device is also water resistant up to 50 meters.
Fitbit stated that the Ionic is designed to keep the device is close to the skin, which increases the accuracy of heart-rate monitoring. Customers can use the Ionic to track enhanced heart rates for high-intensity workouts. The device also provides workout recommendations based on customer feedback.
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Ionic has a four-day battery life and additional features like automatic tracking, sleep stages, and cross-platform compatibility. Ionic can also store and play music, make payments, and receive notifications. Ionic can store over 300 songs and has a storage limit of 2.5 GB (gigabytes). Fitbit has also partnered with Pandora (P) to allow users to download Pandora stations offline and onto the device.
Notably, Fitbit acquired Coin in 2016, and the firm now has a contactless payment system similar to Apple Pay (AAPL) and Android Pay (GOOG) (GOOGL). Fitbit’s Ionic is priced at $300, and the device will start shipping from October 2017.
Fitbit expects the Ionic to drive sales during the 2017 holiday season and help it regain market share in the global wearables market.