Home Insights FitBit increases its revenue by 5% During the 3rd Quarter of 2020

FitBit increases its revenue by 5% During the 3rd Quarter of 2020


There has been around 5% increase in the revenues of FitBit by the 3rd Quarter of this year as compared to this time period of last year. This is against any kinds of forecasts and predictions made by the analysts. This has been a direct result of large sales of recently launched devices.

The overall revenue generated during the third quarter of this year is 365 million US dollars. Its revenue in international market has also risen by a significant 20%. This has made up for the fall of 6% revenue in the domestic market. However, customers in United states are still the larger chunk of market after occupying 54% share in the revenues in the 3rd Quarter.

Its worth mentioning that FitBit has sold fewer number of units during this period of the year as compared to last year as it managed to sell only 3.3 million devices this year, while 3.5 million devices were sold during the 3rd Quarter of 2019. The sales were boosted by the launch of FitBit Sense, FitBit Versa 3, FitBit Inspire 2 and FitBit Charge 2 by the start of this year. All these newly launched devices made up as much as 52% of the generated revenue during the given time period.

Product photography of Versa Metal Accessories
with screen

“The response to our new offerings has been strong across both devices and software,” said James Park. “We achieved a key financial milestone this quarter with an annual run-rate for consumer services revenue of more than $100 million, highlighting the continued opportunity we have to deepen our relationship with users.” He added. James is the Chief Executive Officer of FitBit.

60% of the given revenue was generated by Smart Watches, while fitness bands made up 36% of this revenue. The selling price averaged at $104 per unit sold, seeing an increase of up to 8% as compared to last year.

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