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Fitbit Inc (NYSE:FIT) Versa’s Software Update Expected To Give Users New Experience

Following the software update on Fitbit Ionic watch to Fitbit Versa, users especially skiers, skateboarders, and snowboarders are expected to be treated to a new experience since they can now track all their activities. With the market for high tech devices such as smartwatches gradually growing companies are upgrading their devices so that they can give their customers a good experience. The watches are not meant for only athletes but everybody since they can help one track their daily activities, sleep time and heart-rate and thus get one on track in achieving their fitness goals.

Updated Fitbit Versa

The new 3.0 version of the Fitbit smartwatch is an upgrade of the software for the ionic and the Versa smartwatches. The updated versions have unique features such as the inclusion of third-party apps that can be used to track fun in the snow and skateboards. At the same time, the watches can make data about sleep, exercise water intake and logging of weight viewable from one’s wrist. Fitbit indicates that in 2019 they are expected to release a female health tracking device

The updated version of the watch has some advanced features such as Fitbit pay that is meant to enhance user experience. The Fitbit Pay feature is offered on the limited release of Fitbit Versa, and it makes it possible for the user to add their debit or credit card to their Fitbit wallet and use the watch to pay for goods. The user will only need to wave their wrist at the NFC station at the checkout counter, and they will have settled their bill.

Market prospects

Although the company has been struggling, the launching of the Fitbit versa Smartwatch is expected to give Fitbit some fresh momentum. The unveiling of the Fitbit Versa in April and the Fitbit Charge 3 fitness tracker in August has given them impetus in the market although there was a decline in sales in the first three quarters of the year. The sales decreased by 10% for the first nine months of 2018 whereas the stock price of the company is still 125 off for the years. The software update of their smartwatches has brought relieve because after the announcement for the update was made their shares climbed by 2%.

Post hitting another low of $4.8 in the last week the stock is currently trading range bound and needs to breach its of $6.4 to gain new high. The stock is currently under pressure and can hit it its low of $4.3. It lost 2.16% to close at $4.99 in yesterday’s trading session.

Third-party apps

The updated Ionic and Versa Fitbit watch versions have been built to accommodate third-party apps especially the fitness apps that are popular among software platforms such as Google’s Android and Apple’s iPhone. The latest release of Fitbit watches includes Fitbit watch apps on behalf of Charity Miles that can let the user raise money for various causes such as cancer funding through exercising and also the TRX app that is a workout guide that is subscription based.

Equally the new release watches have other third-party applications that are new in the Fitbit system, and they include Couch to 5K, which is an app that can help in training one to run for specific distances. Also, there is the achu Health that can help in predicting illness, MySwimoPro which is for tracking if swimming exercises as well as help in analysis and the Genius Wrist application that offers specific workouts.

In working to improve user experience, Fitbit is dedicated to being innovative as they look to have a tracking application checking on female health that is likely to be unveiled in 2019. The female health tracking application can display menstrual cycle data as well as logging of illness symptoms and also collate all the information and trends that have been collected in the rest of the user’s Fitbit devices.

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