Sure, it does pretty much what the FitBit does. Nike has always done fitness gadgets right though and we're pretty excited for the Nike+ FuelBand, a wristband that tracks your physical activities throughout the day.
Taking pedometer-based tracking a step further, this new wearable tech uses a built-in 3-axis accelerometer to track all of your movement throughout the day. Not just running and walking -- but dancing, jumping and zig-zagging through the streets in a drunken stupor at 3 in the morning. It records steps taken, calories burned and an arbitrary metric called NikeFuel, which is a normalized score based on aerobic movement (yep, Nike invented their own unit of measurement).
The Nike+ FuelBand is an attractive-looking wristband with a snap-on USB closure. That way, you can quickly remove it and stick the thing straight into a computer for quickly downloading your accumulated stats for the day. Prefer to do your fitness tracking on a phone, instead of a PC? Not a problem, as it comes with built-in Bluetooth that you can pair to work with an iPhone app (Android version coming soon).
Built-in LED lights serve as onboard display, with a bottom row of lights showing your progress against your daily goals. The bracelet is water-resistant, making it safe to use in the shower and in the rain (but not during swimming). It comes with a rechargeable battery that can work up to four days on a full charge.
Pricing for the Nike+ FuelBand, which is currently on preorder, is set at $150.