Fitbit targets 1 million new users with Singapore government tie-up

(Reuters) – Fitbit Inc (FIT.N) mentioned on Wednesday it signed a contract with the Singapore government to offer health trackers and providers in a well being program it mentioned may attain as much as one million users.

FILE PHOTO: Visitors stroll previous an promoting billboard for Fitbit Ionic watches on the IFA Electronics Show in Berlin, Germany, September 1, 2017. REUTERS/Fabrizio Bensch

Fitbit will provide its trackers freed from cost on the situation users spend S$10 ($7.22) every month, for a yr, on the corporate’s premium subscription.

“The program’s goal is to ultimately reach up to one million people,” a spokeswoman for Fitbit mentioned in an electronic mail.

The firm’s shares closed up 2% on Wednesday on the New York Stock Exchange.

The program could possibly be a lift for the San Francisco-based wearables pioneer, which has seen its shares sink previously two years within the face of competitors from Apple (AAPL.O), Samsung Electronics (005930.KS) and a raft of cheaper rivals.

“This is Fitbit’s first major integration of a digital health platform and wearables into a national public health program globally,” the corporate mentioned in a press release.

Singapore, a city-state of 5.6 million individuals, has the longest life expectancy on the planet and widespread entry to healthcare. However, the government has raised issues about comparatively excessive charges of coronary heart illness and diabetes amongst its fast-ageing inhabitants.

Subscribers will obtain customized well being recommendation and nudges to encourage bodily exercise, wholesome consuming and higher sleep, mentioned Zee Yoong Kang, chief govt of Singapore’s Health Promotion Board (HPB).

Fitbit mentioned this system, which begins in October, will ask users in the event that they consent to share their knowledge with the HPB, which is able to use the data for well being promotions.

Fitbit was amongst a number of bidders, an HPB spokeswoman mentioned.

“There were many bidders and some were significant international players,” she mentioned, including that Fitbit had set the goal for one million users.

Apple was amongst these vying for the bid, Fitbit Chief Executive James Park instructed CNBC right here

Reporting by Neha Malara, Munsif Vengattil in Bengaluru and John Geddie; Editing by Marguerita Choy, Patrick Graham and Darren Schuettler

Our Standards:The Thomson Reuters Trust Principles.

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