The leaders of Japan and China got off to a tense start but have made significant progress in turning around their relations in recent years.Asia Politicsread more
Tech's hottest IPOs of the year, including Beyond Meat and Zoom, dropped on Monday, falling more than the broader market.Technologyread more
Stocks in Asia slipped in Tuesday afternoon trade, while investors looked toward a meeting between U.S. President Donald Trump and Chinese President Xi Jinping set to happen...Asia Marketsread more
A week of dovish fireworks out of the central banking community has just gone by with most of the world's leading central banks now guiding towards easing in light of downside...Commentaryread more
"We do not seek conflict with Iran or any other country," Trump tells reporters in the Oval Office.Politicsread more
Chinese Vice Premier Liu He held a phone conversation with U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin, China's Ministry of Commerce...World Economyread more
Sen. Bernie Sanders announced a plan Monday to forgive the country's $1.6 trillion outstanding student loan tab, intensifying the higher education policy debate in the 2020...Personal Financeread more
While earnings usually come in substantially ahead of expectations — as much as 4 or 5 percentage points is not unusual — the downward direction in the outlook doesn't speak...Earningsread more
U.S. President Donald Trump's senior adviser Kellyanne Conway will not testify before the House of Representatives Oversight Committee this week on her alleged violations of...Politicsread more
"We missed being the dominant mobile operating system by a very tiny amount. We were distracted during our antitrust trial. We didn't assign the best people to do the work,"...Technologyread more
PatientsLikeMe was bought by UnitedHealth following a review by Trump's Treasury Department, which scrutinized the start-up because it's backed by Chinese cash.Technologyread more
FitBit's got a lot of things going for it. But could the Apple Watch kill its momentum? Short answer: Maybe.
The company, which produces activity tracking devices, filed for a $100 million IPO on Thursday evening and revealed some pretty impressive numbers in its SEC filing. Sales for the first quarter were up 144 percent year over year, revenue is on track to top $1 billion this year and its paid active users has grown from 600,000 in 2012 to 9.5 million in the first quarter of 2015.
Read More Fitbit files for initial public offering
But keeping that kind of pace could be tricky as smart watches—which have many of the same features as fitness trackers but more functionality in general—become more mainstream.
"The future for dedicated fitness devices is uncertain. There is no doubt that hard core athletes or committed fitness types will continue to buy devices to track activities," said Julie Ask, analyst at Forrester Research. "But if this smartwatch category takes off, it could replace pedometers and devices on the low end (which is in part where FitBit competes). Fitbit also has a smartwatch, but will not be their strength."
According to Generator Research, the activity tracker and fitness market, which FitBit falls into to, will hit $2.3 billion in revenue this year, but by 2020 it will drop to $527 million in revenue because of cannibalization fueled by smart watches. The sports performance market, on the other hand, is expected to grow from $2.2 billion in revenue this year to $2.9 billion by 2020 and the smartwatch market will skyrocket from $17.2 billion to $154 billion for the same time period, according to Generator Research.
"It's very important to understand that there are three separate markets. There is the tracker market, the sports performance market and the smartwatch market. And the one smartwatches will have the biggest impact on is the tracker market," Liz Dickenson, founder and CEO of Mio, the sport performance wearable company.
Mio, which is a heart rate monitor and activity tracker, falls into the sports performance market along with other companies like Garmin, TomTom and Under Armor. Because this market is more mature than the tracker market it will be less affected by smartwatches like the Apple Watch, Dickenson said.
The real winners will be the apps that drive ongoing engagement with consumers, Ask said. While pedometers give users feedback on the number of steps, heart rate, or steps, it is the apps that drive engagement and behavioral change over the long term through competition, community, gamification and support, she said. FitBit competes here and it will be key to their success, she added.
FitBit declined to comment, citing the quiet period after their IPO announcement, but co-founder and CEO James Park previously said he's not worried about the Apple Watch, or any other wearable device.
"I think [the competition] great thing because wearables—health and tracking fitness in particular—are one of the fastest-growing categories in technology, but it's still a pretty new concept for people," Park told CNBC in March.
"So anything that helps people learn more about health and fitness tracking, I think that is great for the industry."