Struggling Fitbit Adds Subscription Service, Launches New Do-Everything Watch
This episode of business wars daily is brought to you by sent pro online from pitney bowes shipping and mailing from your desk is never been simpler than with sent pro online from pitney beaus. Try it free for thirty days and get a free ten pound scale when you visit p._b._a. Dot com slash b w daily <hes> <hes> uh from wondering i'm david brown and this is business wars daily at the start of a new week happy labor day friends for those of you who have a smart watch. We have a question. How necessary do you find. We're betting that you just might leave the house without it sometimes but that your smartphone phone is always with you that sound familiar well the makers of smart watches or on a quest to make them just as essential to our everyday lives as our smartphones are and to do that apple and rival fit have been transforming their watches from relatively simple fitness trackers into potentially life-saving digital health devices. You may have heard our story in february about fitbit and apple watch users who said their lives were saved when they're smart watches alerted them to very fast or very slow heartbeats and they sought medical help will now fit bid is transforming its devices into accessories that do everything from tracking your heart rate to your weight loss to your sleep and beyond last week it announced a new ten dollars a month subscription service called fitbit premium. The service offers workouts access to health coaches and personalized health reports but you can and bring to your doctor. The company also announced the next version of its smartwatch the versa too in a humorous ad campaign called. What else could they do. Fit bit implied that diversity versity can do pretty much anything. One of the most significant changes is that you can now talk to the versa using amazon's alexa voice technology the fitbit ad campaign shows users ranging from herod workers to sweaty exercisers commanding the versa to to delay a meeting call up a spotify playlist ensured that they're entree really is begin even provide conversation fodder for a first date. The implication is that the verse two is essential to helping you get through your days as the campaigns punchline. The versa too can do virtually everything you could want but it can't predict whether you'll get a second date. The two hundred dollar our watch will go on sale. September fifteenth behind the humor is a serious likely painful transformation of fitbit strategy for the last couple of years the price your apple watch soared word in sales while fitbit's business struggled analysts say shoppers were willing to pay higher prices for more features including apples e._k._g. App and a fall detector hector up against such tough competition fitbit has had a tough time. Its stock price was down to less than three dollars. A share prior to this announcement so fitbit's bits leaders are attempting to morph the device maker into a software and services company that will generate profits from subscriptions starting with the new fitbit premium sure sure the initial service offers consumer wellness services but i wonder whether fitbit's devices and future smart watches from all companies will continue to be seen as fun consumer boomer trackers or were they'll cross the line and become outright medical devices after all fitbit promises that subscription service will eventually help you manage of chronic conditions like diabetes heart disease high blood pressure and sleep apnea and fitbit claims all of the data you'll be able to track will help your physician improve. Move your care as fit transformed from a hardware company into a software services maker. It's prophets are taking a hit but overtime. Fitbit won't just just be more help centric business. It's likely to become financially healthier too <music> from wondering this is business wars daily. Hey listen if you like our show. Hop on over your favorite podcast app. Give us five star rating truly helps other listeners by this and we are so thanks for listening. I'm david brown will be back in this episode is brought to you by centro online from pitney bowes shipping and mailing from your desk has never been simpler than with centro online from pitney bowes with simple online line is just click sand and save for as low as four dollars ninety nine cents. That's right four dollars and ninety nine cents a month. Send envelopes flats packages right from your p._c. And you were back to business in no time. Try it for free for thirty days and get a free ten pounds scale but only when you visit p._b. Dot com slash v._w. Daily that's p._b. Dot com slash b w daily.