Photo by Amelia Holowaty Krales / The Verge
Fitbit is working with Singapore’s government to supply residents with free fitness trackers. The company says Singaporeans will be able to pre-register next month to receive a Fitbit Inspire band for free if they commit to paying $10 a month for a year of the company’s premium coaching service. The program will fully roll out in late October.
The monthly fee adds up to more than the band itself is worth upfront, but the deal demonstrates how Fitbit wants to move away from selling hardware at a profit and move toward the recurring revenues inherent to a subscription-based business model. Fitbit tells CNBC that the Singapore deal is “material” to its revenue projections for this year, while CEO James Park says the company beat out…