Polar Electro

History

In 1975, there was no accurate way to measure heart rate during training, and the idea of a wireless, portable heart rate monitor was conceived on a cross-country skiing track in Finland.{{cite book Polar was founded in 1977, and the company filed its first patent for wireless heart rate measurement three years later. Its founder Seppo Säynäjäkangas (1942–2018) was the inventor of the first wireless EKG heart rate monitor. In 1978, the company launched its first commercial product, the Tunturi Pulser. In 1982, Polar launched the world's first wearable wire-free heart rate monitor, the Sport Tester PE 2000.{{cite book

Today, Polar has products ranging from basic models for beginners to fitness enthusiasts and training systems designed for elite athletes. Polar has also developed heart rate monitoring and training systems for equestrian sports. Polar technology and devices are widely used in various scientific studies, as well as being adopted by many university research departments. In part due to its own history, and the affiliation with universities and the scientific community, Polar offers a research co-operation programme focused on supporting studies in exercise science.

In November 2015, Polar released its first optical wrist-reading heart rate monitor, the A360.

In July 2018, Dutch newspaper De Correspondent revealed that Polar's fitness app shows users on the map, making it possible to find out their real names, profession and home addresses. In a reaction, Polar ended some of the online functionality of sharing routes on the map.

Current products

Discontinued products

Financial performance and market position

In recent years, Polar Electro has faced substantial financial challenges amid a shifting global market for wearable technology. According to official business filings, the company's revenue for the fiscal year ending in late 2023 was approximately €110 million, marking a decline of about 1.8% from the previous year and a significant reduction from earlier peaks above €170 million in 2020. Despite maintaining substantial turnover, Polar reported a net loss of about €15 million for 2023, with an operating margin remaining negative at around -14.1%. The company experienced similar pressures in previous years, including an operating loss of €31 million and revenue of €112 million in 2022.

The contraction in revenue and profitability has been attributed to multiple factors, including high inventory levels among retailers, increased global competition, particularly from market leaders such as Garmin and other wearable brands, and overall weak consumer sentiment impacting the traditional heart rate monitor and sports watch segment.

While Polar Electro remains one of the few internationally recognized Finnish consumer electronics brands, its market position has become increasingly challenged. Compared to global competitors, the company has seen a notable loss of market share, particularly in North America, and has struggled to regain momentum despite investments in product development and a shift towards licensing its proprietary technology to partners. Nevertheless, the company has continued efforts to maintain market relevance, with management expressing the intention to leverage licensing revenues and further R&D investments to support future growth.

References

References

1. [[Heart rate monitor]]
2. Individual differences in the responses to endurance and resistance training http://hur.creamailer.fi/assets/uploads/4386b9ed941a611d10cbe3626047fab11214a71d/shared/files/individualdifferences.pdf
3. Occupational medicine:Metabolic Rate Prediction in Young and Old Men by Heart Rate, Ambient Temperature, Weight and Body Fat Percentage https://www.jstage.jst.go.jp/article/joh/56/6/56_14-0063-BR/_html Device RS800CX
4. Polar's research co-operation guidelines: http://www.polar.com/en/about_polar/who_we_are/research/research_guidelines
5. Summary page of Polar research http://www.polar.com/en/about_polar/who_we_are/research
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8. Maurits Martijn. (2018-07-09). "This fitness app lets anyone find names and addresses for thousands of soldiers and secret agents". De Correspondent.
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10. "Polar Grit X2 {{!}} Smart Outdoor GPS Watch {{!}} Polar Global".
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