“Fitbit, the fitness tracking device maker, plans to sell shares on the New York Stock Exchange,” Peter Cohan writes for Forbes. “Should you buy some or is Apple Watch too much of a threat? I think you should wait until six months after the IPO and decide then.”
“Fitbit made a $131.8 million profit in 2014 on revenue that nearly tripled to $745.4 million,” Cohan writes. “‘Since 2007, Fitbit has sold roughly 20.5 million of its fitness-tracking devices — from the $60 Zip clip-on to the $250 Surge wristwatch — with more than half sold last year alone, according to the Wall Street Journal.”
“Apple and Fitbit have parted ways. Until November 2014, Apple sold Fitbit fitness trackers in Apple stores but no longer does. And last October Fitbit announced that it had no plans to support Apple’s HealthKit software because the Fitbit Surge would be a direct competitor to the Apple Watch,” Cohan writes. “Parks Associates expects smart watches to account for 68 million of the 135 million connected health device market – with fitness trackers from the likes of Fitbit representing 50 million of that total.”
Read more in the full article here.
MacDailyNews Take: Dedicated fitness trackers remind us of PDAs in mid-2007. Very popular at the time, yet totally supplanted rather quickly.
[Thanks to MacDailyNews Reader “Edward W.” for the heads up.]