Here’s Why Fitbit’s Smartwatch Bet Is Working [The Motley Fool]
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Source: The Motley Fool
The company can supercharge its smartwatch sales thanks to its fitness tracking roots. It's still early days for Fitbit ( NYSE:FIT ) in smartwatches, but there's no denying that the company has been pulling the right strings to make a name for itself in the space. The wearables specialist has made a solid transition from selling fitness trackers to smartwatches in a very short time. Its first smartwatch, the Ionic, was launched last September, and now Fitbit is getting 55% of its total revenue from this device category thanks to the addition of a more pocket-friendly Versa smartwatch. In fact, Fitbit management claims that the Versa's North American sales eclipsed the combined sales of Samsung , Fossil , and Garmin 's smartwatches. This indicates that Fitbit is trying to position itself as a viable Apple Watch alternative , which in my opinion is a smart thing to do, as it could win big from the smartwatch market even if it ends up playing second fiddle
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