Fitbit bets on marketing drive for latest devices to stay ahead
It forecast revenue and profit in the current quarter that fell short of analysts' estimates
New York
FITBIT Inc is betting that global marketing campaigns to introduce its newest wearable health-tracking devices, including an inexpensive smartwatch, will help maintain its dominance in an ever-more competitive industry.
For now, the higher costs and slower-than-expected sales that may come from those efforts are raising concerns among investors who have watched the company's shares lose almost half their value this year.
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