While several wearable companies have exited the market recently, Fitbit is still working on its new smartwatch. According to CEO James Park, the company hopes to release the accessory “ahead of the holiday season.” Park made the announcement in Fitbit’s Q2 2017 earnings release.
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Fitbit didn’t go too far into detail regarding its smartwatch, though Park did talk a big game. The Fitbit CEO said that he believes the smartwatch will “deliver the best health and fitness experience in the category.” Fitbit believes the smartwatch will drive a strong second half of the year:
“We are executing according to our transition plan and have increased confidence in achieving our full year results,” said co-founder and CEO James Park.
“Our smartwatch, which we believe will deliver the best health and fitness experience in the category, is on track for delivery ahead of the holiday season and will drive a strong second half of the year. In the long term, we are confident in our vision for the future and are uniquely positioned to succeed by leveraging our brand, community, and data to drive positive health outcomes.”
As far as numbers go, Fitbit sold 3.4 million devices in the second quarter, up 14 percent sequentially for $353 million in revenue. The company failed to earn a profit, however, instead reporting a net loss of $58.2 million.
Fitbit certainly seems to believe that its smartwatch will be its savior, though reports have suggested the company is facing issues in development. Fitbit also faces strong competition from Apple, which stole Fitbit’s title of world’s top wearables vendor earlier this year. With a release “ahead of the holiday season,” Fitbit also seems poised to unveil its smartwatch right around the time Apple unveils its latest smartphones and a new Apple Watch.
Many have struggled to compete with Apple in the wearable market, but perhaps Fitbit’s outlook is different. We’ll have to wait and see what the company has in store before we jump to too many conclusions. Would you be interested in a new smartwatch from Fitbit, or has Apple won you over? Let us know down in the comments.