Fitbit has a new fitness tracker, but you can not buy it in stores.
The company unobtrusively entered Inspire Friday, launching its first product aimed solely at business employees and members of the health insurance. The idea is to offer a fully subsidized portable garment that helps the company to delve deeper into the worlds of business and business.
The new devices are available as a bracelet with the option of a clip. The basic functions of the tracker are fairly standard and include activity and sleep tracking, calorie burning, and alerts from a connected phone. A more sophisticated model includes heart rate monitoring, GPS for fitness monitoring, and more in-depth sleep analysis. No prices are posted on the website, but eligible customers will not have to pay.
In an interview with CNBC, CEO James Park said the company had 6.8 million users of wellness programs, including Fitbit devices via employers, health plans or hospital programs. By offering the Inspire – the cheapest Fitbit device to date – the goal is to grow that number even further. Park stated that Fitbit was a designated indoor fitness benefit in 42 Medicare Advantage plans in 27 US states while working with insurance companies such as UnitedHealth.
It makes sense that Fitbit moves into this space because the consumer market is a difficult market. Handheld devices are no longer an early novelty and competition is fierce. Apple dominates in the high-end with the Apple Watch – which has doubled its health characteristics – while, at a lower price, companies such as Xiaomi and its partner Huami offer base trackers from $ 30.
Fitbit went public in 2015. Although its stock price climbed to $ 6.48 on Friday, it is still down from its $ 20 quotation and closing on the first day of 29.68. $. Today, the company's market capitalization is close to $ 1.6 billion.