The news comes as Fitbit continued to make progress with its enterprise unit, Fitbit Health Solutions, but the company needs to keep its device business humming to maintain its user base. Versa Lite is designed to be a budget smartwatch that doesn't have advanced messaging or third party applications, but make up for it with a lower price and a battery that lasts for days. ZDNet's Matthew Miller gave the Versa Lite high marks, but CNET noted that the device competed with two other Fitbit devices in the $160 range.