Electronic equipment manufacturer Fitbit has recently launched its new activity tracker that can also track sleep time and patterns. But it is not directly available for sale through retailers and interested buyers can get it only through their employers or health insurance provider. The launch of this Fitbit product was not done with the usual media fanfare and users spotted the new Fitbit Inspire with details on their company websites. These special trackers are exclusively available through the corporate affiliates of Fitbit, wellness partners, insurance health plan providers and also health system partners.
Price details of the product have not been mentioned as yet as it may vary between employers and service providers but Fitbit clarified that the Inspire it its cheapest product as yet. In recent years Fitbit says that smart-watch market has become challenging in which Apple Watch has a major market share and Chinese Xiaomi has also become a major player. Due to diminishing margins Fitbit’s stock now trades 68 percent below its IPO price of 2015 and now its market value is $1.6 billion. During October last year it posted its first profit after two years due to increase in device sales and enterprise business.
James Park CEO of Fitbit stated that its revenues hinge on corporate customers and now there are 6.8 million patients along with employees and insurance plan members that have signed up for wellness programs which use device of Fitbit. It has also been developing software to enable companies to give health tools to its employees that can keep track of their health conditions and advice change in behavior. The Inspire device has several standard features like step tracking, heart rate checker along with details of calories burnt during different activities. It is available as both a wristband and as a clip that can be concealed under daily clothing.