Fitbit Inc. is an American company which is headed in San Francisco, CA, United States of America. Fitbit is famous for manufacturing and producing wireless enabled wearable activity tracking smart devices which track your fitness metrics and daily activities like no of steps walked, track the quality of sleep, ideal alert, Reminders, Track Heart rate, Steps Climbed and few other types of metrics for fitness. Not only the fitness metrics Fitbit also provides website, Android, iOS and windows support. Fitbit users can connect their devices to mobile via Bluetooth and follow metrics on a regular basis from your smartphone. Users can challenge each other by connecting on a community page. Users can share their daily achievements directly into social media.
According to the IDC (International Data Corporation) report, Fitbit inc is the third largest company which shipped good number of wearable devices in the third quarter of 2018. This year in the first quarter of 2019, they reported better than the expected sales for the year.
Fitbit inc reported that they sold 2.9 million wearable devices in its first Quarter of 2019 Which is 36 percent higher than its previous year. Their Company shares rose from 1.5 percent to $5.45 which is far better than they expected and they also reaffirmed its full year’s revenue forecast of $1.52 billion to $1.58 billion, and they are expecting to sell more smart devices at cheap prices. The analyst expected to sell 2 million wearable devices but they sold 2.9 million wearable devices at an average selling price of $109.33.
The revenue of the Fitbit inc increased 247.9 million to $271.9 million. Fitbit is leading its way by producing as many smartwatches and trackers as possible. To keep the pace they are focusing on value prices – selling Capable of heart rate monitoring, HR version at $99.95 and Inspire at $69.95 where Apple smartwatches and Samsung smartwatches rates start from $200 or above.