Investing.com - Fitbit Inc (NYSE:FIT) shares climbed on Wednesday, a day after competitor Apple Inc (NASDAQ:AAPL) held it launch event for its upcoming suite of products. Fitbit’s Ionic watch is a competitor to Apple’s Apple watch 3.
Before the event, there were some concerns that Apple would release an updated watch that would provide some serious competition to the Ionic; however, according to analysts digesting the features of the upcoming Apple Watch, the ionic remains unique.
Fitbit's new Ionic enjoys some “key differences” from Apple's new product, according to Stifel Nicolaus, including compatibility with non-iOS devices, longer battery life which supports sleep tracking, and an advantage in price.
Fitbit's shares were up 3.5% during Wednesday's afternoon session.