Pebble’s Founder Eric Migicovsky Redefines Business with Core Devices
Eric Migicovsky, the visionary behind the original Pebble smartwatch, is charting a new course in the tech industry with his latest venture, Core Devices. Unlike traditional startups, Core Devices is built on principles of sustainability, profitability, and long-term viability, eschewing the conventional startup model.
Reflecting on his previous experiences, Migicovsky acknowledges the challenges faced during Pebble’s initial journey. The company, which sold approximately 2 million smartwatches, encountered significant hurdles, particularly in inventory management. In 2015, Pebble projected $102 million in sales but achieved $82 million, leading to surplus inventory and financial strain. This miscalculation necessitated layoffs and ultimately resulted in Pebble’s acquisition by Fitbit in 2016, which was later acquired by Google in 2021.
Determined to avoid past pitfalls, Migicovsky is implementing a lean operational strategy at Core Devices. The company maintains a small team, produces inventory based on actual sales rather than forecasts, and operates without external funding. This approach aims to ensure financial stability and adaptability in a rapidly evolving market.
Core Devices has already introduced the Pebble 2 Duo smartwatch, featuring a black-and-white display. The initial production run sold out, prompting the development of the Pebble Time 2, an upgraded model with a larger, color e-ink screen and a stainless steel design. With 25,000 preorders, the Pebble Time 2 demonstrates strong consumer interest.
In addition to smartwatches, Core Devices is expanding its product line with the Index 01, an AI-powered smart ring designed for recording brief notes at the press of a button. Initially priced at $75 during the preorder phase, the Index 01 will retail for $99 post-March 2026. Available in silver, polished gold, and matte black, the ring is compatible with both iOS and Android devices and comes in sizes ranging from 6 to 13.
Migicovsky’s approach with Core Devices reflects a shift from the traditional startup model to a more sustainable business framework. By focusing on profitability and measured growth, he aims to create a company that delivers innovative products without the pressures and risks associated with rapid expansion and external funding.
