Fitbit Scores No.2 Spot on App Store at Christmas

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Photo Credit: Fitbit

Fitbit scored the number 2 spot on the App Store’s free apps during Christmas week, with a number 8 place on the Google Play, gaining an 8 percent share to close at $7.83.

Although the fitness tracker is seeing an increased interest in downloads, the stock price is 39 percent below last month’s figures.

Fitbit is sold as a multi-purpose item, helping you to “reach your health and fitness goals by tracking your activity, exercise, sleep, weight and more.”

It monitors exercise, eating, sleeping and generally helps you keep track of lifestyle choices.

Celebrities embracing the Fitbit trend are: Keven Spacey using Fitbit Blaze, Andy Murray using Plar FT60 and Stephen Fry using the Apple watch.

The encouraging numbers are likely to be part of consumers’ need for health products in the pre-January resolution-setting period.

In the third quarter of 2016, Fitbit sold 5.3 million trackers, suggesting that the tracker is still in a dominant position among fitness apps.

Photo Credit: Fitbit

Fitbit’s revenue jumped 92 percent in the fourth quarter in 2015 compared to the year before.

However, despite these promising figures James Park, CEO said that manufacturing problems combined with a downturn in China could limit the growth of sales for the fourth quarter to only 2 percent to 5 percent than 2015.

The worrying projections echo the fact that Fitbit’s shares remain low at 73 percent for the year.

The purchase of assets of the smartwatch maker Pebble is a bid to add momentum to the growth of the company and profits. Fitbit is said to be aiming to add more smartwatch features.

The main competitor comes from Apple as the company focuses on branching out in fitness watches with the Nike+ and other smartwatch products.

Will the Fitbit trend gain momentum or is competition from Apple going to dent post Christmas sales?