Member Article

Wearable tech firm FitBug expects full year loss as investment in product development continues

Gadget manufacturer FitBug is expecting to report a full year loss as a result of significant investment in product development despite a 310% sales increase for the full 2014 financial year.

The Camden-based innovator has picked up discussions with several retailers for its wearable tech, including Amazon, Argos and BestBuy.com.

The designer and innovator of wearable technology has announced plans to release Kiqplan, an open platform for connecting leading wearable devices and mobile phones, in March 2015.

In addition, Fitbug has agreed a partnership with Cancer Research UK (CRUK) and to be its Official Fitness Partner of Race for Life for 2015, which includes their flagship event series.

Paul Landau, CEO of Fitbug Limited said “This is a really exciting period of opportunity for Fitbug as we see accelerating growth and convergence across the wearable tech, mobile and digital health landscape.

“Our new Kiqplan service proposition has been incredibly well received in the market and we are extremely excited by its potential as awareness and understanding of it grows.”

2015 is set to the be the year of wearable technology with Apple’s Smart Watch launching in April as Android devices continue to grow in popularity.

This was posted in Bdaily's Members' News section by Ellen Forster .