Fitbit's next fitness-oriented smartwatch will be advertised as the "Versa," known industry insider Evan Blass said Thursday, in addition to revealing a high-resolution render of the upcoming wearable. The Versa is understood to be the same gadget that Fitbit was previously said to be targeting at the mainstream audience in an attempt to replicate the success of its versatile smart wristbands in the smartwatch segment. The device will at the very least be offered with silver, charcoal, rose gold, and black bands, whereas its metal case will house three physical keys, according to all previous leaks and the newly revealed render.
Despite being the company's second smartwatch to date, the Versa isn't meant to directly succeed the Ionic and is instead likely to be more affordable than the $300 wearable Fitbit released late last year, partially because it will lack GPS capabilities, according to previous reports. The Versa should still have the same SpO2 sensor found inside the Ionic which is capable of measuring oxygen saturation, with the wearable itself being positioned as the follow-up to the Fitbit Blaze, some insiders claim. The San Francisco, California-based electronics maker is presently in the process of transitioning away from conventional activity trackers and is instead seeking to commit more resources to smartwatches that it believes are now gaining major traction in the wearable industry at the expense of smart wristbands, according to recent statements from various company officials, as well as Fitbit's consolidated financial report for the final quarter of 2017. Besides the Versa, Fitbit is also understood to be planning another smartwatch targeted at children which is also expected to be released this year.
The decline in the popularity of fitness bands caught Fitbit by surprise and the company is now focused on cutting costs and reducing losses as its revenue continues declining, with that trend also being expected to continue over the course of 2018. Fitbit lost $277.2 million in 2017 and is hoping to bounce back with a larger commitment to smartwatches and its digital health division that's seeking to grow its paid subscriber base, as per the firm's latest fourth-quarter report.