Fitbit is a California-based company that develops and manufactures compact, wireless wearable technology for the health and fitness industry. Founded in 2007, the company has gained attention due to its rapid growth and success. In a time span of five years – from 2010 to 2015 – Fitbit’s revenue increased from just over 5 million U.S. dollars to more than 1.8 billion U.S. dollars. The health and fitness wearable devices market is one of the most promising segments of the wearable industry. In 2014, 14 million health and fitness trackers were sold worldwide. This figure is expected to increase to almost 40 million in 2016.
Fitbit’s first device, the Fitbit Classic, was released to the consumer market in 2009, and had limited features compared to the most recent models. The Fitbit Classic only kept track of steps, distance, calories burned and activity intensity. In order to stay competitive in the fast-growing wearable technology industry, the company released multiple models and features throughout the years. As of 2016, Fitbit had six models in the market that vary in price range. The Fitbit Zip is the least expensive with a suggested retail price of 59.95 U.S. dollars. The Fitbit Surge is the most expensive with a suggested retail price of 249.95 U.S. dollars.
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