Smartwatches like the Apple Watch have been seen by some as the future of wearables. After all why would anyone need a fitness tracker when you have a smartwatch that can do the same, and at the same time keep you notified of other events happening on your phone as well? However as it turns out, such devices haven’t exactly replaced fitness trackers just yet.
In fact according to a report from the Guardian, Fitbit has recently revealed that despite the launch of the Apple Watch, which had features that could potentially rival Fitbit’s offerings, it seemed that the company remained largely unaffected by it. It would seem to be the opposite as Fitbit’s Q3 earnings have revealed a 168% year-on-year growth in terms of revenue.
According to Fitbit’s CEO James Park, he notes that the Apple Watch had no material impact on the company, and that both companies are catering to different segments of the market. We suppose that much is true, especially when you consider that Fitbit’s wearables are much cheaper than the Apple Watch, and are mainly focused at fitness enthusiasts.
The Apple Watch on the other hand seems to be more fashion oriented and while it does advertise its fitness capabilities, its price point makes it less accessible to customers who might only need that aspect of the watch. Ultimately Fitbit’s earnings seem to corroborate earlier reports in which it was revealed that in terms of wearables, Fitbit is still the industry leader.
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