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Fitbit (NYSE:FIT) is a San Francisco-based company that manufactures and sells smartwatches, fitness tracker devices, a “smart scale”, and wireless earphones. The company also derives revenue from fitness apps and sells services to employers, health plans, hospitals, and other organizations.
FIT has been a publicly-traded company since July 2015 and its share price has fallen from the mid-$40's to under $5 during that time frame due to competitive pressures from Apple (AAPL), Garmin (GRMN), and Chinese manufacturers including Huawei, Xiaomi, and others.