Fitbit Inc.’s Inventory was taking a beating in recent weeks over worries its wearable apparatus will not fare well throughout the all-important holiday buying season, but now there’s more for investors to consider
A Couple of weeks ago Fitbit’s Charge 2 began shipping to customers, the wearable manufacturer and electronic wellness firm has confessed that there were application bugs in the system that have caused incorrect space monitoring, also states that through agile automated testing a fix was issued.
When I assessed the newest Fitbit Charge two, I noticed that the apparatus had recorded distances which were substantially different from the distances measured by GPS-equipped physical fitness centers, if the Charge 2 was in “attached GPS” style or was only relying upon the accelerometer for space monitoring.
FITBIT HAS IDENTIFIED TWO SOFTWARE BUGS
Fitbit now says that it recently discovered through new testing software two applications bugs which affect certain applications of Charge two: one associated with utilizing Connected GPS while at a couple of distinct manners including walk, hike or span modes, and another associated with utilizing multi-sport monitoring for treadmill and run actions.
These applications mistakes caused the tracker to sometimes calculate stats like speed and space with less accuracy than we expect from our products. Fitbit has now corrected these problems via a free software update available to all Charge 2 consumers.
Fitbit also underscored that the company has done and proceeds to execute internal research to widely test the truth of its goods, which it considers that it has fitness and health trends over the years which matter most to its consumers.
A software bug in and of itself is not a reason to unload shares of Fitbit, however, it will come in a time once the bad news appears to be piling up on the major manufacturer of wearable physical fitness devices. For starters, there is worries big-box retailers are sitting on surplus inventory of both the newest apparatus, the Charge 2 along with the Flex 2. Then there is that pesky business otherwise called Apple who is attempting to encroach on Fitbit’s lead with the Apple Watch 2. The apparatus has more fitness and health attributes which were mostly Fitbit’s domain as well as the backing of some significant health care insurance company Aetna, that’s the very first to subsidise Apple’s wearable apparatus.
Along with increased competition and stock issues, Fitbit can also be contending with a couple of recent studies which reveal wearable physical fitness devices do not actually do the job they should. Researches have raised problems with the self-improvement observation role as well as the improvements in general health consumers get. Fitbit includes its own research and information to counter the critics however in the close of the day traders for any reason do not appear to purchase it. Shares are down near 70 percent from the 52-week high of $41.97 set earlier in the year. At $13.10 it is getting nearer to its 52-week low of $11.65.
Together with all the bugs and poor fiscal performance, it Is going to be interesting to find out what new exercise products Fitbit develops in the foreseeable future. I’ve not had the opportunity to re-test the device and confirm the organization’s claims, but will continue to update this article as other new developments are revealed.