Fitbit’s Charge 3 slated to hit stores in October
Fitbit (FIT) stock is up 13.8% since August 15. The stock surged after the company announced that it will be launching its third smartwatch, Charge 3, in October this year.
The stock has regained some of its losses after Fitbit made a foray into smartwatches, which represents a bright spot in the sluggish wearable segment (WEAR). While Fitbit’s first smartwatch, Ionic, received lukewarm reviews, its second smartwatch, Versa, which was launched earlier this year, saw decent sales and helped the company beat analysts’ estimates in the second quarter of 2018.
Charge 3 is a smartwatch disguised as a fitness tracker
Charge 3, the previous two versions of which were a fitness tracker, is a full touchscreen unlike the Charge 2. However, Charge 3 will not have a built-in GPS. It is also water-resistant up to 50 meters and includes swim tracking.
The Charge 3 will be able to display pop-up notifications from apps like Facebook. It will also let owners accept or reject calls. The Charge line has sold 35 million units so far. Charge 3 is expected to be pretty reasonably priced at $150.
Like Versa, the company will be reliant on Charge 3 to be a hit. As the graph above shows, Fitbit has seen several quarters of negative revenue growth.