Fitbit sold nearly 5 million bracelets and smartwatches in the past quarter, primarily the Alta and Blaze. The company has also indicated that it is working on new products, which it wants to release before the end of the year.
During a conference call, Fitbit CEO James Park announced that the new wearables should be in stores before the holidays, The Verge noted. However, the CEO did not want to give more details, so it is still unclear what exactly Fitbit is planning.
For the time being, however, the manufacturer has to rely mainly on the sales of the Alta and Blaze. Both products sold one million each in the past quarter, contributing significantly to total sales of 4.8 million units, up from 3.9 million from the same quarter last year. With that, Fitbit made about 11 million dollars in profit, converted about 10 million euros, which was less than the same period last year.
Fitbit expects less rosy results for the current quarter. This may have to do with competition in the wearables market. Many large companies have now released smart watches or bracelets. Fitbit mainly focuses on offering fitness features.