Investing.com - Shares of wearable device maker Fitbit Inc (NYSE:FIT) closed Monday’s session up 3.7% after the company unveiled its first ever smartwatch.
Features of the new watch, the Ionic smartwatch, include on-device dynamic workouts, relative SpO2 sensor, GPS, swim tracking, on-board music, contactless payments and 4+ day battery life.
The watch will also offer music streaming thanks to an agreement with Pandora Media Inc (NYSE:P). According to Fitbit, the watch will be available for pre-sale Monday on Fitbit.com and select online retailers Tuesday for $299.95. It will be available in stores worldwide beginning October 2017, in time for holiday shopping.
The watch is seen as direct competition to Apple Inc (NASDAQ:AAPL) smartwatch. Pricing for Apple's watch starts at $269.