Fitbit sold 15.3 million devices in 2017
As the graph below shows, Fitbit (FIT) shipped 15.3 million devices in fiscal 2017, a 31% YoY (year-over-year) decline compared to shipments of 22.3 million in fiscal 2016. Shipments for Fitbit rose exponentially by 250% YoY to 4.5 million units in fiscal 2013, 143.6% YoY to 10.9 million units in fiscal 2014, and 96% YoY to 21.4 million units in fiscal 2015.
Fitbit has attributed the shipment decline in 2017 to saturation of developed markets in the United States and Australia. Fitbit has sold approximately 78 million devices to date. In Q1 2018, the firm sold 2.2 million devices with an ASP (average selling price) of $112 per device.
New devices accounted for 34% of total revenue
Fitbit stated that devices launched in the last 12 months, which include Ionic, Versa, and Aria, accounted for 34% of total revenue in Q1 2018. The firm is expecting Versa and Fitbit Ace to drive revenue in fiscal 2018. Fitbit has already sold over 1 million Versa devices, and it’s the firm’s fastest-selling product to date.
Fitbit claimed that smartwatch revenue in Q1 2018 accounted for 30% of revenue, and this has doubled sequentially compared to Q4 2017. Analysts, however, expect Fitbit’s revenue to decline 19.3% YoY to $285.1 million in Q2 2018, 4% YoY to $376.81 million in Q3, and 8.8% YoY to $1.5 billion in fiscal 2018.