Are wearables a fad?

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Wearable fitness device maker Fitbit Inc’s (FIT.N) revenue forecast for the key-holiday shopping quarter fell well below of analysts’ estimates, hurt by soft demand and production issues related to its new Flex 2 wristband.

Shares of the company, which also reported lower-than-expected quarterly revenue, plummeted more than 30 percent in extended trading on Wednesday and were set to hit record-low levels on Thursday.

Fitbit forecast revenue of $725 million to $750 million for the October-December quarter. That was well below analysts’ average estimate of $985.1 million, according to Thomson Reuters I/B/E/S… More at Reuters.

I’m starting to wonder if all wearables are going to go through a downturn. Smart watches are not doing well, but they seem to be causing a downturn in traditional watches. Fitbit devices, in my experience, are not good at all and the likes of Jawbone are suffering at the moment.

Is it possible that fitness trackers and smart watches are a much shorter-term fad than anyone expected?

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