Fitbit Inc (NYSE:FIT)’s India Ambitions


Fitbit Inc (NYSE:FIT), a global leader in wearable bands is looking for online business in Indian markets from July 1st, 2015.The Company is targeting all types of customers ranging from daily wear customers to performance athletes by introducing in four wearable bands in the market.

The Vice-President and general manager, Steve Morley for Asia Pacific said that they are prepared for total launch and establishment of an Indian unit and the first employees will be taking up their jobs very soon. The company has tied-up with Amazon as its first launch partner for introducing their brands online.

Fitbit Inc (NYSE:FIT) is planning to go offline from Diwali i.e. from the month of Oct or Nov so as to give the customers the opportunity of seeing and knowing more about the product before the actual purchase. However, nothing was disclosed about the offline stores and partners yet.

As per the research firm, IDC and Senior Research Analyst, Jitesh Urbani the demand for basic wearable’s has increased tremendously and due to which there was an increase in the number of devices shipped in 2014 from 26.4 million to 72.1 million in 2015, which amounted to 173.3% hike.

San Francisco being the base market is the largest player with sales of 20 million units in 43 countries. It has about 700 employees selling over 50,000 stores and hoping to increase the sales with the establishment of Indian markets.

In India the company is launching Zip, Flex, Charge HR, and Surge with price range between Rs. 4000 to Rs. 19,990. The Charge HR alone is priced at Rs. 12,990 as it is a unique product in the Indian Market which monitors full time heart rate monitoring for daily users. On the other hand Surge is accompanied with GPS for the performance users.

Steve Morley, VP said that Fitbit Inc (NYSE:FIT) is very competitive and compatible brand among all wearable bands leading to good performance as it is works with smart phones due to the existence of competitive social elements in the app.

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