Fitbit plans launch of new products by end of 2016

San Francisco-based wireless-enabled wearable technology device manufacturer Fitbit has announced to unveil 'exciting new products' towards the end of this year.

Fitbit CEO James Park said during the company's first-quarter earnings call that it is planning on introducing 'exciting new products' heading into the holiday season this year, the Verge reports.

"The fact that we introduced the new Blaze and Alta in the last month of the quarter and they drove almost 50% of our revenue is pretty remarkable. It demonstrates how important it is for us to bring new products to market on a regular basis," Fitbit chief financial officer Bill Zerella said.

Fitbit claims to have sold 43 million wearable devices till date. On May 7, 2015, Fitbit announced it had filed for IPO with a NYSE listing.

The IPO was filed for $358 million. The company's stock began trading with the symbol 'FIT' on June 18, 2015.