After announcing they will be making reorganization efforts and laying off about 6% of their workforce in a new press release, Fitbit also reported they are looking forward to developing a new Fitbit smartwatch. Although they previously released Fitbit Blaze smart fitness watches last year, the wearable fitness tracker brand hopes to successfully deliver "what consumers are looking for in a smartwatch: stylish, well-designed devices that combine the right general-purpose functionality with a focus on health and fitness," according to Fitbit Co-Founder and CEO James Park.

Where the Blaze was geared specifically towards fitness, the new Fitbit smartwatch will likely be a more wide-reaching product, appealing to a broader customer base. The company also recently acquired smartwatch companies Pebble and Vector.