Fitbit Inc Competitor Analysis Report: A Study of Fossil, Garmin & HTC

This report provides a competitor analysis of Fitbit Inc., focusing on Fossil Group, Garmin Ltd, and HTC Corporation. Fossil Group, known for fashion and consumer electronics, acquired Misfit to integrate wearable technology into traditional watches. Garmin Ltd specializes in GPS technology across various sectors, competing with Fitbit in activity tracking. HTC Corporation, initially a smartphone manufacturer, has diversified into virtual reality. The analysis highlights the competitive landscape and strategic positioning of these companies in relation to Fitbit within the wearable technology market.

Fossils Group
Fossil Group Inc is a renowned American fashion designer and manufacturer of
consumer electronic goods established in the year 1984. Misfit is one of the major brands of the
company that specialized in manufacturing of wearable technology products that have the
features of sensors and automation. The consumer electronic wearable products of the company
have unique designing and features such as count sleep, calories and basic steps that can be
synced with a Smartphone. The innovative features offered by the products of Misfit such as
sleep tracker inspires an individual to lead a more active life. Misfit was acquired by Fossil
Group for $260 million in the year 2015 with the major intention of incorporating the unique
technological features of its products into traditional looking watches (Company Overview of
Fossil Group, 2016).
Garmin Ltd
Garmin Ltd is an American multinational technology company established in the year
1989 in the US. The company specializes in developing GPS technology products to be used in
sectors such as automotive, aviation, marine, outdoor and sport activities. It is recognized to be a
major brand in developing the wearable technology products having features such as activity
tracker and competes with consumer developers such as Fitbit. The company develops its
products on the basic principles of innovation, convenience, performance, value and service. It
develops, manufactures, markets and distributes a wide range of navigation, communication and
information devices across the world. The company carries out its business operations through
five segments, that are, auto, aviation, marine, outdoor and fitness (Company Overview of
Garmin Ltd, 2016).
HTC Corporation
It is a consumer electronics company that is headquartered within Taiwan established in
the year 1997. The company along with its subsidiaries is involved in designing, manufacturing,
assembling and selling of Smartphone mobile devices. The company initially is involved in
developing mobiles that are based on windows and now has also become a co-founding member
of Open Handset Alliance. This is known as a group of handset manufactures and mobile
network operators involved in developing Android mobile operating system. Its mobile, HTC
Dream, is also known to be first phone within the global market to use Android operating
system. However, its market share has been gradually declined due to intense competition faced
by the Smartphone companies such as Apple and Samsung. This has caused the company to
diversify its business operations based only focusing on developing smart phones products. As
such, it has established a partnership with Valve for development of a virtual reality platform
known as HTC Vive (About HTC, 2017).
References

Company Overview of Garmin Ltd. 2016. [Online]. Available at:
https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=598655 [Accessed
on: 1 March 2019].
About HTC. 2017. Company Overview. [Online]. Available at: https://www.htc.com/in/about/
[Accessed on: 1 March 2019].
Company Overview of Fossil Group. 2016. [Online]. Available at:
https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=317037 [Accessed
on: 1 March 2019].