Healthy competition never hurt anybody. And don't ever count the underdog out. While Apple's making their way into that particular demographic and vertical, the little smartwatch that could, the Fitbit, is still chugging along, albeit a bit lax as Apple soars through the competition.
Fitbit's Model Now, Understandably, Is Cost Effectiveness
We've seen how that works for brands in the technology space. It certainly fills a gap. For those needing to keep more of an eye on the budget, smaller-scale, lower-tier products fit the bill. While Apple continues to punch through the industry with high-priced technology and brand recognition, we've got winners like Fitbit securing a piece of the pie.
The proof is in the pudding of that pie as the Versa Lite smartwatch they've marketed will cost a sweet $160, down from the $200 of their full version. They're offering more cost-effective options for the budget-minded, and everyone knows technology is all about being financially responsible.
Now while this lite version of the Fitbit may lose some features, like playing music, it will still track workouts and heart rates, representing the core of the point of the product. Truly Fitbit's audience will relate more to the casual user, and especially children. The goal is to get kids -- and their parents -- to focus more on the quality of health versus the smoke, mirrors, glitz, glam and technological features you'd expect from the big boys.
After all, Apple had sold 22.5MM of their watches in 2018. They're the leader. Samsung sold 5.3MM. Fitbit, however, slightly edged out Samsung with 5.5MM. For the last three months of 2018, though, Samsung soared past Fitbit, which writes on the wall for the little company that they need to focus on a target, because technological advances will only make them eat the big boys' dust.
Seriously, Apple featured an electrocardiogram option on their smartwatches! Samsung offered a blood pressure sensor for their Galaxy Active Watch. If Fitbit wants to stay relevant, they either have to beef up that technology, too, or target more of the smaller crowd and not saturate this fitness technology market.
Do You Think That's a Smart Move for Fitbit?
We think so. At least for the time being. Think about it. Apple doesn't make anything cheaper than $279 for their smartwatches. Samsung starts off at $200. But the Fitbit? You can get a simple Fitbit HR for just $100, doing exactly what you want it to do. Even the Ace 2 costs a measly $70. The focus should be on the industry itself, and if it does what it should do, don't complicate it. Let the big boys offer more.
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