News

Track the reports, a 12 per cent drop in sales

FILE PHOTO: Visitors walk past an advertising billboard for the Track Sandy’s watches at the IFA consumer Electronics Show in Berlin, Germany, on September 1, 2017. REUTERS/Fabrizio Bensch

(Reuters) – Wearable device maker Fitbit, Inc. FIT in.N) reported its first drop in sales in five quarters on Thursday, when it is faced with stiff competition from deeper-pocket companies, such as Apple Inc’s (AAPL.(O) and Samsung Electronics Co Ltd (005930.SO, what are the challenges for the buyer’s Alphabet, Inc. ‘ s (GOOGL.(O) Security Of Your Network.

The net loss widened to $51.9 million, or 20 cents per diluted share, for the third quarter ended Sept. 28, of $2.1 million, or 1 cent a share, a year earlier.

The turnover decreased by 11.7%, to $347.2 million.

Reporting Amal in Bengaluru; Editing by Sriraj Kalluvila

Follow us

Don't be shy, get in touch. We love meeting interesting people and making new friends.

Most popular