Pebble reduces smartwatch price by $50
Pebble has reduced the price of two models of smartwatches by $50 and $30 to grab bigger market share of increasingly competitive wearable tech market. The company will offer Pebble Steel at reduced price of $199. The original base model of Pebble will cost $99 only.
Pebble CEO Eric Migicovsky said that the price drop has been announced as a part of company strategy to make wearable tech affordable for customers. Migicovsky added that the price drop is not in response to the introduction of smartwatches by other companies.
Pebble will also offer software upgrade for the smartwatches. The new software will add fitness tracking capability in addition to other features, running at the same time. The smartwatch will also offer sleep and activity tracking to customers. Pebble has added Jawbone and Misfit fitness apps to both the models.
Pebble will be available at more stores across the world. The company has partnered with Fry’s Electronics, Sam’s Club and Dixons. Sprint will also sell Pebble watches.
Migicovsky agreed that entry of new players like Apple and LG has changed the market. However, he feels that Apple has a different product strategy than Pebble. Migicovsky also considers Apple Watch as a luxury, high- end product. Pebble will continue with its retail expansion and the significant price drop can improve its market share. Pebble has early mover and an affordable price tag as two important factors in its favor.
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