“Fitbit Inc. introduced a new smartwatch on Tuesday, challenging Apple Inc. with stronger battery life than the Apple Watch, but investors were not impressed,” Jeremy C. Owens reports for MarketWatch.
“At the opening news conference at CES Press Day in Las Vegas, the wearable-technology company showed off its first full-color smartwatch, the Blaze, which Fitbit said lasts five days and nights on a single charge,” Owens reports. “The product costs $199 and is available for preorder now, with a global retail launch planned for March.”
“Fitbit stock suffered after the announcement, falling to its lowest prices since the San Francisco company’s June 2015 initial public offering. Shares dropped more than 13% Tuesday, touching a new low of $25.52,” Owens reports. “Chief Business Officer Edward Scal took time to draw out differences between the Blaze and Apple’s smartwatch, which the tech giant launched last year with similar band options but more functionality. ‘Its not about all the extras or putting everything from your phone on your wrist,’ Scal said, later adding, ‘What you need to maximize your workouts is a tool, not a toy.'”
Read more in the full article here.
MacDailyNews Take: Only a dying company staffed by abject morons would produce a weak knockoff of product they supposedly think is a “toy.”
A bit of advice for Fitbit: Concentrate on cheap (under $100) fitness bands until you’re bought or you fold, whichever comes first.
SEE ALSO:
It’s official: The Apple Watch is destroying the so-called competition – November 20, 2015
As Apple Watch sales ramp, Swiss watch makers suffer biggest slump in six years – November 19, 2015
Apple Watch models take top four spots on 10 most-wanted smartwatches list – November 18, 2015
Apple Watch is 2016’s hottest holiday gift – November 18, 2015
Apple has already sold more than $1.7 billion worth of Apple Watches – October 29, 2015
Strategy Analytics: Apple Watch sells 4.5 million units in Q315, takes 74% global smartwatch market share – October 28, 2015
Apple Watch users are abandoning traditional watches – September 15, 2015
Over 1 million Apple Watches already sold in China – September 3, 2015
Apple Watch already dominates smart-wearables market, says IDC – August 28, 2015
IDC estimates Apple sold 3.6 million Apple Watch units in Q2 – August 27, 2015
Best Buy CEO: Apple Watch demand is ‘so strong’ that we’re expanding sales to all 1,050 stores – August 25, 2015
Swiss watch exports decline most since 2009 – August 20, 2015
Apple Watch takes 88% of total smartwatch revenue – August 14, 2015
Apple Watch kills a entire industry in three months – August 12, 2015
U.S. wristwatch sales post biggest drop in seven years after Apple Watch debut – August 7, 2015
Apple Watch dominates smartwatches with 75% market share – July 28, 2015
Juniper Research: Apple is world’s #1 smartwatch maker – July 23, 2015
Canalys: Apple ships 4.2 million Apple Watches in Q2 to become world’s top wearables vendor – July 21, 2015
Apple Watch satisfaction is unprecedented at 97%; beats original iPhone and iPad – July 20, 2015
Non-techies love their Apple Watches even more than tech users – July 20, 2015
Apple Watch is Apple’s most successful product debut ever – June 1, 2015