I wish them luck!
Hopefully they will do a better job than the "Garmin Connect" system - cloud-based (servers fall over quite regularly), and the BT-pairing with Garmin devices could be a LOT better (you have to pair through the Connect App and this can be PAINFUL). When the Garmin servers are dead/poorly, so is much of the functionality of the whole system (no local data storage)...
Damn! I hate "Cloud Apps!!"
From what I've seen this past six months, the fitness-watch/band market could really do with an injection of new ideas. I'm hoping that we (I) end up with a watch that does not have to be recharged every time you turn on GPS tracking, and ffs - *NOT* cloud-centric!
Now's your chance Nokia!