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Fitbit works with the Singapore government to provide residents with free fitness follow-ups. The company said Singaporeans could pre-register next month to receive a free Fitbit Inspire group if they pledge to spend $ 10 a month for one year of the company's premium coaching service. The program will be fully deployed by the end of October.
The monthly fee is much more than what the group itself is worth at first, but the deal shows that Fitbit wants to stop selling equipment at a profit and move towards the recurring revenues inherent in a subscription-based business model. . Fitbit told CNBC that the Singapore deal was "essential" to its revenue guidance for this year, while its CEO, James Park, said the company had beaten its competitors, including Apple, for the offer.
This is the first major integration of Fitbit wearable equipment into a national public health program in the world, the company said. Users will be asked if they agree to share their data with the Singapore Health Promotion Council (HPB), according to Reuters. "We believe this program could reach a million people," said Park, adding that it serves as an example to illustrate how "the transformation we talked about in our business model is becoming real".
Singapore has 5.6 million inhabitants and has a unique universal health care system, widely regarded as one of the best in the world. The city-state consistently ranks high in life expectancy ratings. But the population is aging and has fairly high rates of heart disease, prompting the government to seek additional solutions.
"We intend to work with industry innovators, such as Fitbit, on additional efforts to use the technology to provide Singaporeans with personalized health advice and advice, so they can take control of their own health, "said Zee Yoong Kang, CEO of HPB.
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