Reuters reports that Fitbit shares are down 3.7% following yesterday’s event. Investors clearly believe that the latest Apple Watch, coupled to price drops on older models, will be enough to take more market share away from competitors.
The site also notes that Garmin shares are flat, ending recent gains.
A recent report suggested that Apple has almost twice the market share of Fitbit, while a separate one showed the ‘basic wristband’ market falling in developed markets as people seek the greater functionality of full-on smartwatches.
Apple Watch Series 4 pricing starts from $399, with the Series 3 now starting from $279.