FitBit is a pioneer in wearable technology. But the company has recently shifted its strategy amid competition from the Apple Watch, and as the wearable market has failed to really see mass adoption. Cheddar's Hope King and Brad Smith explore the company's performance using E*Trade's innovative platform.
Adult wearable technology users in the U.S. is expected to grow nearly 12 percent this year, according to eMarketer. In a survey conducted by Cheddar, 18 percent said they own a FitBit compared to 27 percent who've said they own an Apple Watch. 47 percent of those surveyed by Cheddar say they don't wear any wearable technology.
FitBit has had an up and down year, with shares ranging between $5 and $7 a share. Overall, shares are down 17 percent over the course of the past year. The company did introduce its first smartwatch in 2017, and is looking to directly compete against the Apple Watch at a similar price point. Shares also hit a 52-week high in December during the holiday shopping season.
FitBit reports fourth quarter earnings after the Closing Bell Monday. Analysts expect revenue of nearly $590 Million, and to break even in profit.
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CEO and Founder of Studio Jason Baptiste and his new Director of Content and Programming Lisa Niren discuss their app and why it stands out from the crowd. They also explain why it's a better value than Peloton and other exercise apps.
Lyron Bentovim, CEO and President of The Glimpse Group, discusses how augmented reality will change the way people dine out. The Glimpse Group is designed to cultivate entrepreneurs in the virtual reality and augmented reality industry.
With the help of Amazon's Alexa, Smart Kitchen appliances are getting smarter. Amazon announced expanded abilities for its voice assistant to control kitchen appliances and made an investment in June. Matt Van Horn, Co-Founder & CEO of June, the maker of smart ovens, was with us to share how the investment will help the company.
