The internet is abuzz with the news of the recent downfall of shares of FitBit.
The reasons for this recent downfall has been gauged in many sources over the internet.
Various expert opinions have been delivered, but before we go into that, let us first review what the damages inflicted summed up to.
The shares of one of the most popular tech wearables, Fitbit got crashed today by $-5.46.
Perhaps all the consternation started with the launch of Blaze, which is a direct competitor to most other smartwatches that we see today.
Blaze is a device that is dedicated to your fitness completely; it monitors all your physical activities.
The device has been laced with a heart rate tracker, automatic exercise recognition and can count your steps as well.
However, this is not all – the Blaze also allows you to take or reject calls, send and receive messages, set notifications on calendar and lets you check messages too.
It keeps you online connected via GPS 24×7 with long battery backup.
If fully charged and used sparingly, the device can provide you a backup of at least five days and nights constantly which is a very good score, even in comparison to Apple watch.
The CEO and co founder James Park has declared that it will be available at $200 for the base model and will be priced higher for higher models from March 2016.
It comes with slim design, changeable bands, changeable frames, beautiful coloured touch screen and versatile clock style to suit to your personal style.
However the device does not allow you access facebook, make online payments or other financial transactions, which is a downside, as compared to other smart watches allows these features.
If you check with the Apple smart watch, then Blaze is half the price. Analyst Angelio Zino of SP Capital IQ pointed out for the same by stating that the price of the device could be higher if it allows the such applications to be developed by the third parties in other smart watches.
An analyst of CNN David Golman commented that the applications that are that feature on other smart watches are much more in demand as compared to those in the Fitbit Blaze.
This could be one big reason why the popularity is being affected, hence effecting its sales and consequently, the share value figure.
The company has to think about these missing features and aim towards an upgrade which is actually causing the share prices to crash.