Fitbit forecasts dismal holiday quarter, shares sink

Wearable fitness device maker Fitbit Inc's 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. Fitbit forecast revenue of $725 million to $750 million for the October-December quarter. Fitbit's transition to its newer products, greater-than-anticipated softness in the wearables market and production issues with the new Flex 2 wristband were the chief causes for the weak outloo