Amazon launches its first fitness band in bid to dominate wearables market

Platform Industry News: Amazon Inc has just launched a fitness group and program,”Halo”, as the dominant e-commerce giant looks to take on Apple, Fitbit and Samsung in an increasingly crowded physical fitness tracker market.

The Halo ring will be priced at $99.99 while the app membership would cost $3.99 a month, according to Amazon.

The marketplace for wearables is hyper competitive, with Apple Inc being the chief with a 29.3 percent share in the first quarter of 2020, according to data from American market research business International Data Corp.

The fight between the major players in the market for an increased share of the fitness band marketplace has prompted the likes of Apple and Samsung to include features for health monitoring, including electrocardiogram and blood pressure detector. Over the past few years, fitness trackers and wearable devices are  proving to be amongst the most innovation-led consumer markets in the world.

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Alphabet Inc-owned Google said in November it would buy Fitbit Inc for $2.1 billion. Shares of the fitness tracker maker fell marginally in morning trading.

Amazon explained the water-resistant band, using a battery life of around 7 days, comprises an accelerometer, a temperature sensor and a heart rate monitor, amongst other features.

The team at Platform Executive hope you have enjoyed this news article. Initial reporting via our official content partners at Thomson Reuters. Reporting by Akanksha Rana in Bengaluru. Editing by Krishna Chandra Eluri.

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