from March 2017, Competition
FitBit was all the darling in 2015, with a strong IPO showing and staggering sales topping 21 million devices. Fast forward to today, and in just over 20 months FitBit's stock is down nearly 60% from it's all-time high. More or less, FitBit provides decent, singular focused devices. While this has been good for FitBit in terms of volume sales, the Mark Cuban question has raised it's ugly head – Are you a viable business or just a clever one-off product?
Simple, low-priced fitness trackers have been an easy, low-risk purchase decision for many, but over time devices like this tend to fall out of favor with consumers, as they gravitate towards multi-functional solutions, even if that requires a higher spend. Enter Apple Watch.