Rumors of Fitbit's "Project Higgs" GPS smartwatch have been around for months, but the chatter has been getting louder in recent days. A launch may be getting closer...

Fitbit took over Pebble and Vector in the smartwatch space last year and the firm is obviously keen to open new revenue streams and expand beyond its struggling fitnessband portfolio.

Supposedly "leaked" images of the new waterproof smartwatch (see below) resemble an upgraded Fitbit Blaze. The device design, if true, looks okay, but without a major wow factor, in our view.

However, where Fitbit really lacks punch is not in product, but in distribution and brand awareness. Apple is far better known globally as a watchmaker, while its retail presence across Apple stores, retailers, e-tailers and operators is the most powerful in the wearables industry. If Fitbit's "Project Higgs" is to beat Apple Watch, Fitbit will need to spend big on salespeople, in-store training, and marketing. Having a "better product" on its own will not be enough.