Fitbit Ionic is Apple's new rival in smartwatch race

(Aug 29): Wearable device maker Fitbit on Monday launched its newest device, the Ionic smartwatch, with features ranging from fitness tracking to contactless payment, as it gears up to compete with rivals such as Apple.

Once the market leader in wearables, Fitbit has recently struggled due to fierce competition and had earlier blamed a shift among consumers toward feature-rich devices and smartwatches for its revenue decline.

Ionic smartwatches will feature GPS, heart rate tracking, water resistance up to 50 meters, Fitbit Pay, on-board music, multiple clock faces and a battery that will last more than 4 days, the company said in a statement.

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