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Fitbit reported better-than-expected revenue for the quarter ending March 31, thanks to a 117% increase in smartwatch sales.
"In the first quarter, revenue was up 10% and devices sold 36% year-over-year," said James Park, co-founder and CEO of Fitbit, in a statement. "Smartwatch appliance sales increased 117% year-over-year, and the introduction of our new followers, Inspire and Inspire HR, contributed to the first quarter growth of the year. Another in three years ".
Fitbit recorded a net loss of $ 79.5 million on revenues of $ 272 million. Smartwatches have been the main driver of these revenues, Fitbit said, its tracker business grew by only 17% in terms of revenues during the quarter. The total number of devices sold jumped by 36% per unit of sales year on year. Versa Lite is the company's biggest success so far in 2019.
Fitbit also reported that its Health Solutions business grew 70% year-over-year and generated $ 30.5 million in revenue.
"New users continue to join the Fitbit platform, with the number of active users increasing in the first quarter," added Park, highlighting the effectiveness of our strategy to bring more users on the Fitbit platform with the introduction of more accessible and affordable peripherals. "
According to Counterpoint, Fitbit is now the world's fourth largest manufacturer of smartwatches, behind Apple, which dominates this market, Samsung and Imoo. But as in the case of smartphones, Huawei has seen its share grow faster than its competitors in the last quarter and should establish itself as one of the best players this year.
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