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Fitbit Off to Slow Start in 2017 as Devices Pile Up, Report Says

  • Cleveland Research says demand so far this year is ‘weak’
  • Maker of fitness tracker had to halt production in December
Fitbit Alta.
Source: Fitbit

Fitbit Inc. isn’t starting off 2017 on a high note, according to a report by Cleveland Research.

The maker of wearable fitness trackers halted production in mid-December because the devices were piling up at retailers and suppliers amid disappointing sales, according to a report by the firm published Tuesday. Demand so far this year is “characterized as weak,” Cleveland Research said, suggesting analysts’ estimates for 2016 fourth-quarter earnings may be too high.