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Fitbug Holdings (LSE:FITB),an AIM traded provider of online personal health and well-being services, has announced details about the commercial launch of ‘Fitbug Orb’, an “innovative, Bluetooth Smart, wireless activity and sleep tracker”.
With a unique choice of wear options and colours the company argues that “Fitbug’s proprietary digital health coaching service, “KiK”, at a US price of US$49.95 (GBP£45), establishes a clear leadership position on value, wearability and personalised service”.
“The Fitbug Orb complements the Company’s established portfolio of fully integrated connected health products, as Fitbug continues to increase its presence in the fast growing global Digital Health and Wearables Market”.
In a new assessment of the mobile healthcare market, ABI Research finds wearable device revenue will grow to exceed US$6 billion in 2018, with Activity Trackers forecast to grow at 40% compound annual growth rate (‘CAGR’) over the next five years.
Using the Bluetooth Smart wireless protocol, Fitbug Orb offers seamless, wireless connectivity to the latest generation of both Apple iOS and Android mobile devices such as the iPhone range, Samsung Galaxy S4/S4 Mini, and Bluetooth 4.0-enabled tablets including the Samsung Galaxy Note 8.0, the new iPad and the recently updated iPod Touch. For those without a compatible device a dongle solution is also available.
This connectivity provides customers with instant access to their personalised health and wellness programme and Fitbug’s motivational tools anywhere and at anytime. Activity levels and sleep patterns can be seamlessly uploaded and monitored without the need for cables, receivers or constant computer access, whilst KiK, a proprietary digital coach, helps people set, monitor and where necessary actually prompts them to act, to achieve goals. Additionally, the low energy nature of the technology enables months of continuous usage, eliminating the regular need to recharge or replace the battery.
Paul Landau, Fitbug Chief Executive said, “I am delighted to announce the launch of the Fitbug Orb, without doubt our most significant product development to date. Wearable tracking technology is one of the biggest health trends of the year and Fitbug is looking to help make it available to a broader audience and encourage expansion to a more mainstream mass-adoption market. I believe high prices have to date constrained market growth.
“The Fitbug Orb tackles that – at a sub US$50 price the feature rich Orb offers exceptional value compared to competitor products in the US$130-150 range from Jawbone and Nike. With an established and growing presence in the US, recent expansion into new markets and a competitive range of connected health products, I believe we are well placed for solid growth” said Mr Landau.
