The yet-to-be-announced holiday offerings from Fitbit Inc (NYSE:FIT) will not be brand-new devices according to a Fitbit executive. The new product offerings are just upgrades of existing products which Chief Financial Officer Bill Zerella says will give the company a stronger lineup of new and persuasive devices. Some of the upgrades will be in Surge and Charge fitness trackers. There is a feeling of optimism within the company which seems to be going places.
The feeling is well outlined by the Chief Executive James Park in his mention of a possible addition of new product later in the year. Consumers for this year’s holiday season will have more choices of new products. However, Fitbit declined to divulge details of any possible launch of its products.
Watch out for more from Fitbit Inc
The company may not be new in the market given that it has previously introduced the smartwatch-like Blaze which is a new category alongside the Alta, a mid-tier fitness tracker. The two have played a significant role in the company’s revenue last quarter having gained up to 54%. This propelled the shares with more than 9% because the devices dominated sales. But even with all these the overall smartwatch market toppled.
Apparently, there is a notable struggle among consumers in finding the value for smartwatches According to Zerella. However, long battery lives, its ability to work with different operating systems are some of the particular features that set Blaze device apart.
Investors and analysts concerns
Fitbit Inc had high operating costs something that was causing concern among investors and analysts. Engineering, sales, and marketing are some of the dockets that had large expenditures which have grown up to 120% year over year.
However, Zerella says that there is some light in these expenses. The Company’s current earnings are somewhat a reaffirmation that Fitbit is actively managing costs. Apparently, it has gained so much from Europe and the Middle East, some of its largest market with a growth of 150% compared to the 42% for the US.
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