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Can Fitbit Keep Time With Apple?

Fitbit FIT -18.35 % ’s move into smartwatches might seem ill-timed given Apple’s dominance in this area. Don’t count the company out just yet, though.

At the Consumer Electronics Show on Tuesday, Fitbit announced its newest product, a fitness-oriented smartwatch called the Blaze. While the company has other fitness bands that offer some smartwatch-like features, the Blaze represents its first official foray into this nascent category.

Given the Apple Watch dominates the field, Fitbit’s latest step would appear to confirm fears it will soon suffer the same fate as others who have challenged the world’s largest...