Fitbit launched its cheapest smartwatch on Wednesday to defend its position as the
second-largest seller of smartwatches after Apple. San Francisco-based Fitbit said
the Versa Lite smartwatch will cost $160, down from $200 for the full version. While
still tracking workouts and heart rate, it will lack some features such as the ability to
store music directly on the watch. Further, the company unveiled the new Ace 2
fitness tracker for kids. The company also revealed that it plans a launch a paid
premium service for its customers later this year, however it did not share any
specifics.
In 2018, Fitbit sold 5.5 million smartwatches, behind the biggest seller Apple's 22.5
million units, but just ahead of Samsung's 5.3 million units, according to data firm
Strategy Analytics. But Samsung overtook Fitbit on a quarterly basis in the last three
months of 2018. Indeed, rivalry for a greater share of the market has heated up as
Apple and Samsung have added features for health tracking, Fitbit's core focus. The
Apple Watch included an electrocardiogram feature last year, and Samsung this year
added a blood pressure sensor to its Galaxy Active Watch.
“With our newest products, we're delivering high-quality, easy-to-use wearables that
are more affordable, so getting healthy can be accessible to people of all ages and
activity levels – even those who have never tried a wearable,” said James Park, co-
founder and CEO of Fitbit in a statement. Fitbit also announced new versions of its
cheaper trackers in a bid to lure more casual users who might not be ready to fork
out for the pricier devices of its rivals: The $100 Fitbit HR, capable of tracking heart
rate, and the $70 Ace 2, which tracks activity in children as young as 6 years old.
The company noted that Fitbit Inspire and Ace 2 will retail at Rs. 6,999 in India,
whereas the Inspire HR will cost Rs. 8,999. The Fitbit Versa Lite will cost Rs. 15,999
in India. All new Fitbit fitness devices will go on same beginning this month in
Americas, Asia Pacific and Europe, Middle East, and Africa. The India-specific
release dates are yet to be revealed. Fitbit is trying to persuade investors that it can
hang on to users and sell them future devices if it gets them onto its tracking
platform, which can store and share health and activity data. Chief Executive James
Park said at a press event ahead of the product release that the company has nearly
28 million active users.
