Fitbit just launched its healthcare platform
Fitbit (FIT) has been shifting its focus to making smartwatches in light of the competition with the market leader, Apple (AAPL). Fitbit launched Versa, its second smartwatch, earlier this year and saw mild success. When it launched the smartwatch, it also announced it will be shifting its focus to healthcare.
The company just launched Fitbit Care, its new health coaching platform. At the foundation of this service is Twine, a health platform that Fitbit recently acquired.
Fitbit Care will use the Fitbit Plus app to provide detailed health insights and one-on-one health coaching, among other features.
Through Fitbit Care, Fitbit is looking to add a human touch to fitness tracking. Fitbit says the coaches are trained to assist with weight loss, quitting smoking, and even chronic conditions such as hypertension and diabetes through in-app communications.
Fitbit has been losing market share to Apple
Fitbit is trying to differentiate its services from Apple’s. The iPhone-maker’s latest smartwatch, the Apple Watch Series 4, has impressive health measurement features, including an ECG meter.
Fitbit stock surged 5.3% on Wednesday, September 19, after Fitbit unveiled Fitbit Care. The stock has declined 20% in the last three months since Apple seems to be gaining more ground in the wearable sector (WEAR). According to recent estimates by IDC (International Data Corporation), Fitbit lost more ground to Apple and Xiaomi in the second quarter of 2018.