Fitbit: Turnaround Challenges
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Case Code: BSTR580 Case Length: 16 Pages Period: 2007-2019 Pub Date: 2019 Teaching Note: Available |
Price: Rs.400 Organization: Fitbit, Inc. Industry: Technology & Communications Countries: United States Themes: Turnaround Strategy, Competitive Strategy, Strategy Formulation |
Abstract Case Intro 1 Case Intro 2 Excerpts
Introduction
Leading global wearables brand US-based Fitbit, Inc. (Fitbit) announced that its revenues for the quarter ending March 31, 2019, stood at US$ 272 million as against the previous year's US$ 247.9 million. Analysts pointed out that this was better than the expected revenue of US$ 260 million. James Park (Park), co-founder and CEO of Fitbit, said in a statement, "We saw continued momentum across our business in the first quarter, with revenue up 10% and devices sold up 36% year-over-year. Smartwatch device sales increased 117% YOY, and the introduction of our new trackers, Inspire and Inspire HR, helped spark the first quarter of year-over-year growth in tracker device sales in three years."...
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