Enter Smart Home! Interview with Vice President of Global Business at Misfit

Reporter: Now many companies are already making smart wearable devices. How does Misfit look at this market, does it have a plan for making watches?

Justin: Smartwatch is a very interesting new industry. At present, we are working with smart watches by implementing a software platform. In 2014, Misfit collaborated with smart watch manufacturer Pepple to launch the Misfit Pebble App for Pebble Smart Watches. In April of this year, Misfit created an exclusive app “Misfit Minute” Fitness Guide App for Apple Watch Apple Watch. Through software cooperation, we can help us increase the user population of Misfit. This is also a promising area in the future.

Reporter: Is Misfit planned to develop and produce smart watches in the future?

Justin: In the field of smart watches, companies like Apple, Motorola, Pepple, etc., have done a very good job. One of our current concerns is in the area of ​​smart homes, such as future smart products in offices and cars, not just smart wear on the wrist.

Reporter: We know that at the end of 2014, Xiaomi and Jingdong invested in Misfit. Does any of these investments from China have any impact on future expansion of Misfit, including expansion in the Chinese market?

Justin: We are very fortunate to have access to companies like Xiaomi, Jingdong, and Shun Wei for China Internet Fund and Li Ka-shing's Horizon Ventures, which are supported by Chinese investors. They brought us more insights into the Chinese market and we were able to bring our products to the Chinese market. At the same time, through further understanding of the Chinese market, we can also better understand the needs of the Chinese market and Chinese consumers, and develop and produce products suitable for the Chinese market. The support of Chinese investors also allows us to develop faster and more efficiently in this area.

Reporter: In smart homes, Misfit has now introduced the Misfit Bolt smart light bulb. In addition to this product, what kind of product will Misfit bring to the smart home in the future?

Justin: We think there are many opportunities in the smart home market and the smart home market, such as consumer home products used at home and tools to control these home products. Like August, Dropcam is a very interesting company, and Amazon is also doing Echo products. We and many partners are now considering the expansion of smart homes. One of the most important points is how to convert induction into action and create a product that is more suitable for users to actually operate. This fall, we will have two new smart home products on the market.

Reporter: What products will be listed in the autumn market? We know there are many forms of smart home products. What is the new form of Misfit?

Justin: Our future product will be more focused on the health field, and it will have more to do with our current smart devices.

Reporter: At present, what is the market share of the Chinese market in Misfit's global sales?

Justin: At present, China's annual sales account for 30% to 40% of global sales.

Reporter: Is Misfit's main target market in the future in China or in the United States?

Justin: In fact, this year we will put more focus on the Chinese market. At present, we also have a large team in China and are working to develop products for the Chinese market. We also have a Chinese market specialist who is working hard to understand the needs of the Chinese market and Chinese consumers in an effort to meet the needs of local users as much as possible. At the same time, we also launched a social platform suitable for the Chinese market, collecting and integrating information through various channels, and providing Chinese consumers with more suitable products in the future.

Reporter: After JD.com and Xiaomi.com invested, they put forward some corresponding requirements for the development and design of Misfit, or did they just cooperate at the capital level?

Justin: Jingdong and Xiaomi are our very good partners, but we are independent in R&D and design.

Reporter: Is there any difference in the usage habits between the consumer groups of smart products in the Chinese market and other foreign markets? For Chinese users, what special design does Misfit do?

Justin: The usage scenarios of users in China and other regions are basically the same. The biggest difference I think is that the associated social platforms are different. In China, Wechat may be the platform for a wider range of sports and social networking. This is not the case in the United States.

Reporter: Many Chinese manufacturers have introduced similar smart bracelet products and have low prices. What are the technical advantages of Misfit in the competition with Chinese domestic brands?

Justin: First of all, our products have a sense of design and look elegant. Secondly, we have a very large number of partners. Through good cooperation, we establish a very good ecosystem with our partners. This can also better support the use of our users in daily life.

Reporter: As far as I know, Misfit has areas related to health and smart homes. But in these two areas, whether it is apples like foreign countries or Jingdong and Xiaomi, both have their own platforms, what does Misfit think about this platform? of? Will you enter it or will you build your own platform?

Justin: When it comes to platforms, there are usually two cases. One is the platform where products and products are connected, such as mobile phones to connect computers and smart devices; the other is a further related platform, which is to integrate all aspects of data, and A platform connected via data. This kind of analysis based on data, and ultimately through the data to find user needs, to create a platform to meet demand products is what we want to achieve.

Reporter: Can I understand that this is an open platform for data, and everyone can get data on Misfit's platform?

Justin: We want to provide our customers with the simplest, most user-friendly and best-in-class products. Even if our platform is open to other competitors, we believe that people will still choose our app. Because the analysis of data from the technical point of view is very easy, but human cognition is the most difficult to resolve, we always in this area of ​​user experience, so even if the data platform is open, our App will still be our user's first choice.

Reporter: What are the positioning groups for the Misfit Bolt in this exhibition? What is its price? Because millet launched a smart light bulb called Yeelight, it can also change color, and this bulb has a market price. So where are the advantages of Misfit Bolt compared to these two products?

Justin: First of all, from the design point of view, Bolt inherited our usual sleek design. In addition, in terms of user experience, we have developed a beautifully designed and easy-to-use App for our users. Whether from the hardware or software, we focus on the product's ease of operation and aesthetics. A good user experience is always the starting point of our product design and manufacturing. This is our advantage.

Reporter: We all know that Xiaomi and Jingdong have invested in Misfit. As an investor, Xiaomi also launched its smart home products. The two parties also launched similar products. How do you view this competition?

Justin: Xiaomi is our very good partner. I prefer to see our cooperation as a mutually supportive and complementary relationship.

Reporter: Sports health is currently an area of ​​great concern. This involves the accuracy of data. What technologies does Misfit use to ensure data accuracy? In addition, more and more products have added the function of heart rate detection. Will Misfit's future products also join this function?

Justin: Regarding the accuracy of the data, there is a group of data experts in our team that specialize in data collection and analysis. On the one hand, they and medical scientists work together on the one hand, medical scientists to study the connection between sports and wearable devices, and how to use this connection in practice; on the other hand, they use scientific algorithms to analyze the data. Both sides worked together to ensure the accuracy of our data.

As for the heart rate monitoring function, there are currently products on the market that have heart rate monitoring functions. Their accuracy is not particularly high, and they are simply monitoring the heart rate, displaying the heart rate, and failing to provide an analysis of the user's health status through monitoring. On the other hand, the heart rate monitoring function needs to consume more power, or use more powerful batteries, which is inconsistent with the characteristics that our products do not need to be charged. So for now, we haven’t considered adding a function to monitor heart rate.

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