Fitbit Launches New Smartwatch

On Monday, Fitbit, Inc. (NYSE: FIT) launched their newest device, the Ionic smartwatch which features fitness tracking and contactless payment. Recently, the company has been struggling with fierce rivals and revenue decline. The new smartwatch also includes GPS, heart rate tracking, water resistance, battery that will last more than 4 days, on board music, Fitbit Pay, and multiple clock faces. Users will also be able to add American Express, Mastercard, and Visa credit and debit cards. New sensor technology is also featured called the “SpO2” sensor that estimates oxygen levels in the blood. The new smartwatch is priced at $299.95 which is a bit above Apple Watch’s starting price of $269.

“Over the coming months you will be able to add eligible American Express cards, as well as Mastercard and Visa credit and debit cards from top issuing banks in over 10 markets across the globe,” Fitbit said.

Fitbit has also launched Aria 2 smart scale and Flyer wireless headphones. Shares of the company were up 5.9% at $6.07 on the New York Stock Exchange.

“Fitbit can take some market share from Apple by appealing to those who are more focused on fitness, however, we do not expect this to be a significant share of Apple’s overall smartwatch sales,” Wedbush Securities analyst Alicia Reese said.

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