Jawbone transformation may need to abandon the pure hardware ideas, more innovation in the model, cultivate users and improve the viscous, so as to tap the value of users.
As the originator of the once wearable device, the future fate of Jawbone, which is slightly stumbling, is still attracting attention.
According to foreign media, Jawbone is preparing to transition from wearable products to healthcare. In the future, the company will introduce a model of hardware and long-term service bundling for professional medical institutions. Regarding the transformation of the business, as of press time, the reporter has not yet received an official reply from Jawbone.
According to Cai Zhuoyu, wearable equipment analyst at Tuoba Industrial Research Institute, under financial difficulties, Jawbone may hope to use the data collected by wearable products as a basis to seek transformation in the medical and health field.
"If you only do general medical and health products, there are already quite a lot of players. Jawbone has no core competitiveness and no brand value. From advanced to professional level, Jawbone needs time to improve product reliability and needs to go through FDA certification, it is difficult to achieve success with the talent, technology, capital and brand accumulation of start-ups, so its better destination is to cooperate with big brand manufacturers. Without the help of big companies, Jawbone's current situation, It is very likely that he will experience layoffs or bankruptcies within 1-2 years," said Cai Zhuoyu.
In 2011, Aliph, a company with Bluetooth headsets and speakers as its main products, released the UP series of healthy bracelets and officially changed the company name to Jawbone in the same year. At the time, the pursuit of wearable devices was spreading from Silicon Valley to the world, and Jawbone was seen as a pioneer in this field.
However, market competition is cruel. In the fight against Fitbit, Fitbit maintained a competitive advantage, and Jawbone went down. According to IDC's report, in the third quarter of 2016, the smart wearable market maintained a slight growth of 3.1%, with an overall sales volume of 23 million. The top five companies are Fitbit, Xiaomi, Garmin, Apple and Samsung. Jawbone, which once sold the world's second largest, has disappeared from the list.
In fact, Jawbone's dilemma is not one day. After experiencing a series of problems with the Fitbit patent war, the foundry vendor Flextronics lawsuit, global layoffs, and the loss of executives, the smash hit unicorn was sent to consider selling last year, although it was denied after rumors. Its constant decline is an indisputable fact.
From its birth to the present, Jawbone has received nearly a billion dollars in venture capital, including JP Morgan Chase, but Jawbone's current financial situation is stretched. Its most recent round of financing was $165 million in financing completed in January 2016, when it was valued at $1.5 billion, which was half the price of its peak. Last spring, the investment company BlackRock Group estimated the value of Jawbone, saying its valuation was only $300 million.
Analyst Zhao Ziming believes that Jawbone's products are not doing well in backward compatibility. The redesigned APP is not compatible with the previous generation, which has caused many fans to disappoint. In addition, there are some features that are not timely and have a backward appearance.
Cai Zhuoyu believes that in the products, wearable products have few core technologies, Jawbone started early, and the results at the beginning were good. The follow-up was also recalled due to product problems. Outside of the product, Fitbit's competitive advantage is more important because it conveys a clear product positioning to consumers, successfully cultivates brand awareness, and gradually establishes a brand image.
In Cai Zhuoyu's view, although the growth rate of the overall bracelet market is not so good, the penetration rate is still gradually increasing, but mainly based on low-priced products. In the future, the added value will go to the watch, and more manufacturers' product lines will be expanded from wristbands to watches, and the market will cover the high-end and low-end markets.
Transforming medical healthAccording to foreign media, Jawbone plans to provide medical health products and a series of services through the B2C model, targeting clinicians and medical services. The company is no longer obsessed with the smart bracelet directly facing consumers, but to expand the profit growth space. In addition, Jawbone is seeking a new round of investment.
Correspondingly, its original business model will undergo tremendous changes. It is understood that its future business model has similar interests with Omada. Omada is a digital health services company that provides digital health plans for people at risk of chronic diseases through personal coaching, smart biometric tracking devices, online social networking and online courses. The cost of the application is tied to the performance of the user.
“The understanding of clinical medicine is a common problem in the transition of medical electronics to the health care sector, including consumer spending in the medical field, the choice of clinical medical parameters embedded in consumer electronics, and the medical team behind the diagnosis of the diagnosis. Authoritative, etc., are all common problems encountered in consumer electronics.†Wang Wenhua, executive director of CIC's knowledge consultation, told 21st Century Business Herald that the most likely problem for transforming medical electronics from consumer electronics is human health big data. The accuracy of monitoring and the scientific identification of complex conditions can lead to user distrust of monitoring data, and data with large errors affect subsequent operability. There is still a long way to go to actually apply the data collected by wearable health devices to medical practice.
“Or consumer electronics can be cut from a model that is easy for users to understand and effective. For example, the Omada Big Data model is based on improving the physical condition of the user through the control of diet and exercise that is easy to understand but not effective. Indirectly, it can prevent the prevention of various types of high-risk diseases, so this model is more easily understood and accepted by users. This business model is feasible through the management of user behavior to achieve the ultimate prevention purpose." Wang Wenhua said.
In his view, Jawbone transformation may need to abandon the pure hardware ideas, more innovation in the model, cultivate users and improve the viscous, so as to tap the value of users.
Cai Zhuoyu believes that such a model requires more and more accurate body data, internal algorithms need to be identified by medical institutions, time and input costs are too high, and it is difficult to become mainstream. "From hardware transformation to service, Jawbone's only advantage is the original customer base, but Jawbone has no relevant expertise and capabilities, and lacks the corresponding talent, it is difficult to turn around smoothly."
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