This statistic highlights Fitbit’s Average Revenue Per Device Worldwide starting from Q1 of 2016.
Fitbit Inc. is a worldwide provider of health and fitness devices. The company’s platform combines the connected health and fitness devices to an online dashboard or mobile application. Through these applications, they provide social and motivational tools, personalized insights, and virtual coaching through personalized fitness plans and interactive workouts. Their products are mainly wearable connected health and fitness trackers that are worn on the wrist and then track the user’s daily steps, calories burned, distance traveled, active minutes, sleep duration and quality, etc.
The device also displays real-time feedback on your performance. Its offerings include – Fitbit Flex, Fitbit Flex 2, Fitbit Zip, Fitbit One, Fitbit Charge, Fitbit Charge 2, Fitbit Charge HR, Fitbit Blaze, Fitbit Surge, Fitbit Accessories, and Aria. These devices are sold across the world in retail stores as well as online shopping platforms like Amazon. Fitbit faces competition from companies like Xiaomi, Huami, Misfit, Fossil, etc.
Fitbit has sold over 100 million devices worldwide as of 2019. Fitbit’s revenue for the year 2019 fell down to $1.43 billion, recording a 5.2% drop from the previous year. Fitbit has operations being carried out across all the major countries in the world, but the U.S is its biggest market and more than 50% of its revenue comes from the U.S.
In the first quarter of 2016, their average revenue per device was about $104.37 and then started falling and dropped to $103.39 in the second quarter, $95.36 in the third quarter, and $88.27 by the last quarter of 2016. The revenue per device saw an uptrend in 2017 with average revenue per device increasing to $101.13 in the first quarter, $104.74 in the second quarter, and $108.31 in the third quarter. The fourth quarter of 2017 saw a small drop in average revenue to $105.70. The average revenue per device shot up in the first quarter of 2018 to $115.29 and then started falling quarter on quarter to $111.53 in the second quarter, $111.21 in the third quarter, and then fell down to almost $102 by the end of 2018.
The numbers continued falling and the average revenue per device had now gone down to $92.80 in the first quarter of 2019 and then $88.85 in the second quarter. The average revenue then increased in the third quarter of 2019 by almost $10 to $98.08.
Fitbit’s average revenue per device has been following a downtrend for a while now. Google has now acquired Fitbit for $2.1 billion dollars. Fitbit has been consistently coming up with newer technology to compete in the market and acquire a larger share of the customer base. Currently the biggest tech giants like Apple, Huawei, etc. have all come up with their own versions of wearable devices, Fitbit would really have to up their ante to survive and with Google’s customer base and technological and creative abilities, Fitbit can become the biggest name in consumer wearable devices once again. The increasing numbers towards the end of the year can be perceived as a positive outlook towards the reestablishment of Fitbit as a brand in the healthcare community.
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