FitBit: Smart, Connected Device Transforms Competition and Promotes Sustainability

In the first year of its existence, FitBit sold 100,000 devices. At the time, there were countless weight loss and exercise programs, plans, and gimmicks. But smart, connected wearable activity trackers were virtually nonexistent. Five years later, FitBit managed to take the title biggest selling manufacturer of wearable tech when it sold a whopping 21 million devices in 1 year. It still holds that title today.

Vision: Simple Approach Plus Smart Device

FitBit was launched in San Francisco, California, by Eric Friedman and James Park. These entrepreneurs took a basic approach to personal health and fitnesseating right and keeping active. Their vision was to develop a smart device that would motivate users to be more active, eat a well-rounded diet, and ultimately become healthier. Throughout the day, FitBit logs data about the wearers activities, including the number of steps taken, distance travelled, calories burned, and what needs to be done to reach a personal daily goal, for example, walking 2 miles. FitBits internal memory can store at least a week of activity data. One of FitBits competitive strengths is the app that is accessible from a smartphone. Users can sync FitBit devices and view their online profile, activity levels, and sleep patterns on dashboards that display on more than 150 mobile devices, including iOS, Android, and Windows Phone products. This compatibility maximizes the number of friends and family in each users network to share performance stats. It also motivates and increases user retention.

First Class Fitness

A smart wearable product that fits effortlessly into users life styles launched an industry and made FitBit a market leader. In the second quarter of 2015 (2Q15), FitBit shipped 4.4 million units, up 159% from the same quarter a year ago (2Q14) and held 24.3% global market share. Second in line was Apple with 3.6 million units shipped in 2Q15 and 19.9% global market share. Thanks to the technology that enabled FitBit and the companys growing reputation, Friedman and Park are likely to be in business for a long time.

1. How did FitBit managed to take the title of biggest selling manufacturer of wearable technology tech and sustain it?

2. What could other companies who produce fitness trackers challenge FitBit in the marketplace?

3. What other features do you think consumers would like FitBit to incorporate into its fitness tracker to further improve it? How would consumers and FitBit benefit from these improvements?

4. What are the major trends in the computer hardware industry in India? Identify major storage and processing devices used in India.