Fitbit’s shiny new Ionic smartwatch was supposed to help the struggling wearables maker get back on top for the holidays, but it’s looking like a grim reckoning may be coming for the company next year instead.
Wall Street analysts say the new $300 device isn’t catching on enough to offset depressed sales of Fitbit’s simpler and lower priced activity trackers. And new opportunities Fitbit has pursued supplying devices for corporate wellness plans and medical research studies have yet to payoff.
