Fitbit CEO James Park says that the company’s sales have been unaffected by the Apple Watch, as the company announced Q3 revenue up 168% year-on-year, reports the Guardian.
While there is no current overlap in pricing – Fitbit devices start from just $60 and top out at $250 – the statement may look a little optimistic in years to come. Apple is likely to add functionality to future Watches while maintaining its premium pricing, but it’s not impossible it could follow its iPhone strategy of keeping previous-generation devices on sale at a reduced price when new ones launch.
On a conference call with investors, Park said that the rollout of other smart watches, which often come with a step-tracker similar to Fitbit’s main function, did not have impact on the company’s growth. When asked about Apple’s new watch specifically, he said it had “no material impact”. He added that Apple and Fitbit cater to “two very different segments in the market” in terms of price point and use and that “there’s room for more than one dominant player.”
That could see the two companies competing at least at the $250 level – and in the meantime, there are already discounted Apple Watches out there, from Apple and others.
Via The Verge
