Fitbit plans launch of new products by end of 2016
Fitbit CEO James Park said that it is planning on introducing 'exciting new products' heading into the holiday season this year
San Francisco-based wireless-enabled wearable technology device manufacturer Fitbit has announced to unveil 'exciting new products' towards the end of this year.
Fitbit CEO James Park said during the company's first-quarter earnings call that it is planning on introducing 'exciting new products' heading into the holiday season this year, the Verge reports.
"The fact that we introduced the new Blaze and Alta in the last month of the quarter and they drove almost 50% of our revenue is pretty remarkable. It demonstrates how important it is for us to bring new products to market on a regular basis," Fitbit chief financial officer Bill Zerella said.
Fitbit claims to have sold 43 million wearable devices till date. On May 7, 2015, Fitbit announced it had filed for IPO with a NYSE listing.
The IPO was filed for $358 million. The company's stock began trading with the symbol 'FIT' on June 18, 2015.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Looking for short term investment ideas? Analysts suggest buying these 2 stocks for potential gain; check targets
SBI 444-day FD vs PNB 400-day FD: Here's what general and senior citizens will get in maturity on Rs 3.5 lakh and 7 lakh investments in special FDs?
Power of Compounding: How long it will take to build Rs 5 crore corpus with Rs 5,000, Rs 10,000 and Rs 15,000 monthly investments?
Small SIP, Big Impact: Rs 1,111 monthly SIP for 40 years, Rs 11,111 for 20 years or Rs 22,222 for 10 years, which do you think works best?
10:33 AM IST