Fitness Trackers were all the rage a couple of years ago. It was THE industry to invest in. But in over the past couple of months we have seen a changing pattern. As the market grew saturated with similar products offering the same things, a lot of previously popular companies faced a steady decline. Recently, Jawbone, one of such once popular company left the market. After the first quarterly loss in a decade, Under Armour has also decided to stop production and back out from the game.
According to Under Armour’s CEO Kevin Plank, “operational challenges and lower demand in North America resulted in third quarter revenue that was below our expectations.” Consequently, we will not be seeing fitness bands from Under Armour anymore. The company has already bid adieu to its UA Band and has instead decided to focus on software like apps and partnerships like Nike has with Apple.
Despite of the extreme competition, the fitness wearables industry is booming and contrary to the news, is nowhere near its demise. If you’re interested in buying a new fitness tracker, there are still plenty of options available along with new releases from Samsung, Apple and Fitbit.