Even a few months ago, it was being considered that Fitbit would not be able to keep the competitive edge on the wearables market as the customers are ditching the fitness trackers for more appealing and efficient smartwatches. However, the company proved everyone wrong with the announcement of its financial earnings in the second quarter of the year. It was announced by
Fitbit that they have completely sold out its highly appealing smartwatch Versa in the second quarter of the year. As a matter of fact, Versa outsold smartwatches of every other reputed company including Samsung, Fossil and Garmin in the market of North America. So, the popularity of their range of smartwatches can be well determined.
As of now, the smartwatches from Fitbit are the biggest revenue generators for the company since they form up to 59% of the revenue generated. According to the reports obtained from Fitbit, the company has sold as many as 2.7 million watches in the recent quarter. And Versa stands above everything else as the poster boy of the Fitbit Smartwatches. As stated earlier, the customers today are opting for Smartwatches instead of fitness trackers. Thus, these extraordinary financial gains that Fitbit has secured will help the company to adjust to the changing dynamics of the market.
However, the newest range of fitness tracker’s from Fitbit namely Iconic, Aria 2, Flyer etc has constituted to revenue up to 59%. Even the Fitbit’s apps are making its way in every household. It has 60% newly activated accounts and the Female health tracking app has gained almost 2.9 million sign-ups.
Although the financial year has been great for Fitbit, they are focusing on achieving a more competitive edge over its competitors.