Fitbit, the makers of wearable technology, has added a new feather to its cap. It signed a contract with the Singapore government to provide fitness trackers and services under a health initiative. It will fetch one million new users for Fitbit, which will begin in October.
Fitbit has some conditions for the users who will receive its trackers for free of charge. Users will have to pay 10 Singapore dollars (approximately $7.23, ₹500) per month for a year. After the news of this spread, Fitbit’s shares saw a 3% peak in midday New York Stock Exchange trading.
This deal is definitely a boost for Fitbit seeing its sale sunk after Apple and Samsung launched its own variables. This move also comes after Singapore, which has the longest life expectancy in the world with extensive access to healthcare, realized about the high rates of heart diseases and diabetes among its fast-aging population.
“This is Fitbit’s first major integration of a digital health platform and wearables into a national public health program globally. There were many bidders and some were significant international players,” the company said in a statement.
According to Zee Yoong Kang, chief executive of Singapore’s Health Promotion Board (HPB), the users of Fitbit’s wearables will receive some personalized health advice. It will also encourage them to increase their physical activity, help in healthy eating and get better sleep. “We intend to work with industry innovators such as Fitbit on additional efforts to use technology to provide Singaporeans with personalized health advice and nudges so that they can take control of their own health,” he further added.
The consent of the users will be taken and if they provide it, their health data will be shared with the HBP that will use the information for health promotions and awareness. Amongst the bidders, along with Fitbit, Apple’s name also came up.