Here's Where Things Went Wrong for Fitbit Inc in 2017

Fitbit's (NYSE: FIT) investors have suffered through a very lackluster year, despite some big announcements from the company. Just several months ago the wearable tech company released its new Ionic smartwatch, which the company has pinned much its future on. Unfortunately, the device is having a hard time keeping pace with the comparably priced Apple (NASDAQ: AAPL) Watch.

Fitbit's shares have tumbled about 8% since the beginning of 2017 -- compared the S&P 500's nearly 18% gain. Let's take a look back at the year and see what went wrong with Fitbit and why it'll have a hard time turning things around.

Image source: Fitbit.

Source: Fool.com