Fitbit hopes new smartwatch with smaller price tag helps it win against Apple

Fitbit Inc. is continuing its bet on smartwatches, with one key change.

The wearables pioneer announced a “mass-appeal” smartwatch on Tuesday with a cheaper price tag, as well as a new activity-tracking band meant for children. Both devices are available for preorder today and will go on sale in the second quarter.

Fitbit’s FIT, +1.97% new watch, the Versa, features many of the same capabilities as the smartwatch that the company put out last year, the Ionic, though it’s priced more competitively. The Versa costs $199.95, while the GPS-enabled Ionic sells for $299.95. A special-edition Versa, featuring two bands and the ability to make NFC payments, will sell for $229.95.

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