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Is The Smartwatch Boom Really A Bust?
April 7, 2016 by admin
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The bottom is dropping out of the smart watch industry as VC’s start to realise that the Apple dream is not making many people much dosh.
This week smartwatch maker Pebble CEO Eric Migicovsky blamed VCs for not giving him all the money he needs and laid off a quarter of its workforce.
Only a few years ago, Pebble was the darling of the crowdfunding crowd, having raised over $30 million on Kickstarter. This was when Apple was rumoured to be making one and the Tame Apple Press was claiming they were going to be the next big thing,
When Migicovsky confirmed the layoffs. He implied that VCs are now less keen on funding the dream.
Now Apple, which was said to be the market leader of smartwatches, has dropped the price of the Apple Watch by $50. It is probably not going to upgrade the next one with any serious bells and whistles. It looks like the only people who bought one were Apple’s hard core of fanboys who buy everything that Jobs’ Mob makes regardless of whether they need it.
The IDC sees wearable devices reaching 110 million by the end of 2016 which should be 38.2 percent growth. But it seems that this is not enough.
Fitbit was initially championed as an industry leader but this year saw its stock has been battered in 2016. It appears that Smartwatches haven’t set the market alight. Pebble’s rivals are Apple, Samsung, Motorola, LG and others. It also does not have any other businesses to fall back on.
Courtesy-Fud
FitBit Files IPO As Sales Double
May 26, 2015 by admin
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Fitbit, the maker of wearable activity trackers, has filed to go public and has reported some strong sales numbers in its presenation.
The company seeks to raise as much as US$100 million, according to a regulatory filing, though the amount is subject to change. Fitbit plans to list its stock on the New York Stock Exchange under the symbol “FIT.”
The filing reveals what seems to be a healthy business. The company sold roughly 10.9 million devices in 2014,more than double what it sold in 2013 and more than eight times as many as it sold in 2012.
Fitbit also more than doubled its revenue between 2013 and 2014, to more than $745 million. Sales in 2012 were about $76 million.
The company posted net income of nearly $132 million in 2014, up from a loss of roughly $52 million the year before.
Meanwhile, the company’s paid active users grew from 2.6 million in 2013 to 6.7 million in 2014.
Fitbit, founded in 2007, makes a number of activity-measuring bracelets and trackers that can be synced with an online dashboard and mobile apps. The company also provides premium services like virtual coaching and customized fitness plans.