Pebble makes our favorite smartwatch on the market today, the Pebble Steel, and the company – a former Kickstarter campaign – had a successful 2013. CEO Eric Migicovsky told Fortune recently that his company sold 400,000 Pebble units in 2013, which is quite an impressive figure, especially considering that Sony and Samsung were also in the market and, now, considering that it hadn’t even released its much more fashionable Pebble Steel model. But what’s next? Can Pebble still compete with the iWatch expected later this year and in the wake of Google’s Android Wear announcement? Migicovsky believes so.
“When we started working on wearables six years ago, there were few players in the space and a lot of skeptics,” he told Fortune recently. “It’s exciting to see this market grow so quickly — enabling more interesting use cases and keeping all of us laser-focused on creating the very best user experiences we can.” Pebble has indeed done just that – it not only was able to get its product in Best Buy, making it easier for consumers to purchase, but the company also recently released its own App Store with watchfaces and apps that users can download and manage. Its software is first rate, too, and Pebble is supported on both iOS and Android – something its biggest competitors haven’t done.
Fortune estimates that Pebble generated about $60 million in revenue last year, and one investor and partner told the news outlet that the company is on track to double that in 2014. The new models will help, and Pebble could potentially generate new revenue by taking a cut of published applications or selling its own apps. The company has high hopes that smartwatches will soon be worn by everyone, too, not just geeks and early adopters, Fortune said. We see that the demand is still there: the Pebble Steel with a metal band remains sold out.
Google may be entering the market with LG, Motorola and others, but a lot remains to be seen on how well it can execute. How much will the devices cost? How good will battery life be? With Pebble, we already know that you’re getting a high quality product and solid battery life. The company is likely not resting on its laurels either, and we can’t wait to see what else it does this year.