How FitBit Can Avoid Becoming the Next BlackBerry
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FitBit’s fitness trackers face threats on all sides — from Apple competition to patent-infringement lawsuits.
That sounds a lot like the travails of another device maker — BlackBerry — almost a decade ago. Like FitBit, BlackBerry was the established market leader with a ubiquitous gadget and a lower-priced alternative to Apple’s shiny new iPhone. It offers FitBit a lesson: Use the capital from an upcoming initial public offering to fund research into innovative technology.
“BlackBerry’s failure was the fact that they weren’t able to meet the expectations that consumers were looking for and keep up with the times,” said Angelo Zino, a New York-based equity analyst at S&P Capital IQ. “FitBit has to find a way to defend the position they’ve built here.”
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