Fitbit Inc (NYSE:FIT) Struggles With News Of Exploding Device And Unstable Future

A Wisconsin woman alleges she sustained second-degree burns when her Flex 2 blew up on her wrist.

Fitbit (NYSE:FIT) gets it rough after a Wisconsin woman alleged that a Fitbit fitness tracker, a Flex 2 bracelet, on her arm blew up causing her to endure the second-degree injuries. The reports that have spread across the whole the region are affecting the company’s reputation, which is currently struggling to boost their sales performance in the market.

The company is looking for a way to contain the situation but it’s not going to pull out the Flex 2 bracelets that seem to be experiencing the technical problems in the market. This is the first time Fitbit is experiencing negative feedback from its customers about the safety measures of the devices. The firm sold about 22.3 million tracker devices in the last year alone. The reports from the market indicate that the Fitbit product line and brands could slump even if the company is finally justified or not to be blamed.

The future of the Fitbit appears gloomy as the company struggles to strengthen its already tainted image. The reports about the exploding devices bring back the memories when Samsung Galaxy Note 7 allegedly exploded sometimes back. The accusations against the Fitbit come the wrong time when the firm has just climaxed its position in the market.

The company has experienced the hardware issues before, but it was not to a larger extent where the safety of the wearer was at risk. There were some concerns about the accuracy of the heart-rate tracker technology of its products in the past one year. Early this month, Fitbit also received reports concerning the delays in the production of their next batch of the smartwatch.

The Fitbit was the biggest loser in the stock market in 2016 which lead to the firm giving away its value of about 75%. The performance of the company is likely to fall down drastically if the accusations are not fixed on time. Looking at the product which is won by wellness programs clients both retail and corporate, it could be hard to convince the users to purchase the products that put them at health hazards.

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Published by Donna Fago

I believe in writing content Informing investors with the knowledge they need to invest better today- I have been following the markets for many years and was asked to join the team at recently due to my passion for the markets.

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