Better Buy: Fitbit Inc. vs Garmin Ltd.

At first glance, Fitbit (NYSE: FIT) and Garmin (NASDAQ: GRMN) don't seem like rivals. Fitbit is one of the world's top fitness tracker makers, and Garmin is generally known for making GPS devices. But over the past three years, Garmin became one of Fitbit's fiercest rivals with its Vivo fitness trackers and higher-end sports performance wearables.

IDC reports that between the first quarters of 2016 and 2017, Fitbit's global share of the wearables market fell from 23% to 12%, causing it to fall to third place behind Xiaomi and Apple. Garmin claimed about 5% of the market during the quarter, making it the fifth biggest player in the market.

Fitbit's Alta. Source: Fitbit.

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Source: Fool.com