Where Will Fitbit Be in 5 Years? [The Motley Fool]
FITBIT INC (FIT)
NASDAQ:AMEX Investor Relations:
investor.fitbit.com/overview/default.aspx
Company Research
Source: The Motley Fool
Where Will Fitbit Be in 5 Years? Wearable tech is on the rise, but it hasn’t worked out for this manufacturer. Fitbit ( NYSE:FIT ) is back to rummaging around the bottom of the barrel. The company has managed to re-secure some semblance of a growth story , but its stock keeps falling . The wearable tech outfit is making progress toward diversifying itself away from just device sales, but it may be some time yet before that translates to any returns for shareholders -- likely as much as five years. Over the next five years, wearable technology -- which includes fitness trackers, smartwatches, headphones, and tech-enabled clothing -- is expected to reach 279 million annual units sold according to tech researcher IDC. That compares to just shy of 200 million expected units sold in 2019, good for an 8.9% per year growth rate if the forecast proves accurate. That bodes well for Fitbit. The company sold 13.9 million devices in 2018, and followed that up with another 2.9 million units in t
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