Blog Coverage Fitness Enthusiasts can Rejoice as Fitbit Launches Charge 2 and Flex 2 Wristbands

LONDON, UK / ACCESSWIRE / August 30, 2016 / Active Wall St. blog coverage looks at the headline from Fitbit Inc. (NYSE: FIT) as the company launched the second generation of its wearable fitness trackers Fitbit Charge 2 and Fitbit Flex 2 on August 29, 2016. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.

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San Francisco, California based Fitbit is known for its activity trackers, wearable technology devices that measure personal metrics like steps taken, heart rate, quality of sleep etc. Fitbit was listed in New York Stock Exchange in May 2015 and has become a dominant player in the wearable technology market.

The highlights of the products

Both Fitbit Charge 2 and Fitbit Flex 2 are an upgrade of their existing products Fitbit Charge HR and Fitbit Flex. The trackers work using the GPS system of the smartphones of the users. Fitbit Charge 2 has a touch screen display that has 4 times larger screen size than its predecessor Fitbit Charge HR and has a changeable wristband. Fitbit Flex 2 is their first waterproof interchangeable wristband and is also 30% smaller than its Fitbit Flex. It can track water based activities up to 150 feet in water. Flex 2 has a removable tracker which can be attached to any of the Fitbit bands, bracelets or pendants.

Both these products boast an updated tracking and software which now offers real time statistics throughout the day. The trackers can record data for all types of activities like walks, runs, bike rides, elliptical, sports, aerobic workouts, and swimming (only Flex 2). Other features include vibrating reminders to keep moving so that the user stays active. The software updates to the new devices include display of notification from third-party apps like Facebook, Gmail, Slack, Snapchat etc.

Boost to the Top-line

The pre-order prices of Fitbit Charge 2 will be $149.95 whereas Fitbit Flex 2 will be $99.95. With the U.S. holiday season around the corner, the upgrade on Fitbit’s bestselling products is expected to boost sales. They will be up for sale on the company’s website as well as other shopping sites like Amazon.com Inc., Best Buy Co, Inc., and Target Corp., among others, from August 30, 2016. Fitbit’s new products will be available globally in September and October 2016.

A few days prior to the launch, on August 23, 2016, Fitbit emerged victorious in a lawsuit with Jawbone one of its competitors, when the judge for the US International Trade Commission ruled in favour of Fitbit. Jawbone had accused Fitbit of infringing six patents and poaching employees who stole confidential data.

On August 2, 2016 Fitbit had posted its Q2 FY16 results which exceeded expectations. The company had sold 5.7 million devices for the quarter with revenues at $586.53 million. The US market contribution was 76% of the total revenues. Fitbit Alta and Fitbit Blaze were the highest selling products and their share in total sales was 54%.

Stock Performance

At the close of trading session on August 29, 2016, Fitbit’s shares gained 1.84% to close the trading session at $14.94. A total volume of 8.7 million shares changed hands during the course of trading session. The company’s share price has gained 9.37% in the past month and 20.39% in the last six months.

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