Fitbit will refocus on product upgrades due to the failure of its stripped-down product

August 07, 2019 | Case Study

Smartwatches are seeing strong market growth, given the increasing market awareness and use cases as well as the improving product functionalities driven by multiple key developers like Apple, Samsung, Google, Fitbit, and Garmin. However, not every player in the field has actually realized business growth. Fitbit announced that its smartwatch revenue for Q2 2019 dropped 27% year over year, leading to the company's shares slumping by 16%.