Intro Today, there is a big craze for wearable technology especially for fitness bands. Fitbit is an American company known for its activity trackers, wireless-enabled wearable technology devices that measure data such as the number of steps walked, heart rate, and other personal metrics. After its $4.1 billion IPO in 2015, they spent the year as the world’s number one purveyor of wearables. They shipped over 18 million devices in one calendar year without launching a single new product. In the upcoming years, they have been experiencing rapid growth and change after going public for only one year. However, even though they have been constantly readjusting to the needs of the business, they have been competing head on with Apple Watch. General Environments In the upcoming years, Fitbit has been focusing on their demographic environment because they have been capitalizing on the societal shit towards healthier products. Their main target …show more content…
Furthermore, smart wristband shipments are expected to fall by 15% to 17 million units. This is because companies such as Apple, Samsung, Sony, and LG are getting into this market as well. A major problem lies within the functionality of the fitness tracker integrated into the coming generation of smart watches due to all the technological advancements today. Unfortunately for Fitbit, there have been at least 40 million smart watches shipped within the past year and Apple has been dominating the market with its first wrist wearable called the Apple Watch. As a result, smart watch sales have been expected to jump 17% to 21 million units. This is why Fitbit is currently working hard to evolve by emphasizing its new software experience because they still have the necessary connectivity that people need and is marketable without the extra features other companies feel they need to