Google Reportedly Considers Buying Fitbit

Posted: Oct 28 2019, 11:59pm CDT | by , in Technology News

 

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Google reportedly considers buying Fitbit

Google could be looking at releasing its own smartwatch in the future.

Now that Google has made its foray into smartwatches with the launch of Wear OS, a dedicated operating system for smartwatches, Google's parent company Alphabet is reportedly considering buying one of the early entrants in the smartwatch market: Fitbit.

Although Google offers Wear OS, the company has yet to produce its own smartwatch hardware. Over the recent months, Google has expanded its wearable device offerings including its own earbuds. However, smartwatches are still something that the company has yet to make.

Currently, Wear OS is being used by smartwatch providers including luxury brands like Louis Vuitton, Montblanc, TAG Heuer, Michael Kors and other watch manufacturers like Fossil, Kate Spade, Tommy Hilfiger, Casio and more.

Now, people familiar with the matter told Reuters on Monday that Alphabet has made an offer to buy Fitbit for an undisclosed amount.

Google and Fitbit declined to comment to the newswire. Fitbit's stock soared 30.86% following the report.

Reuters said a deal with Google could benefit Fitbit especially as the San Francisco-based company faces tougher competition from companies that offer cheaper smartwatches such as China's Huawei and Xiaomi.

To keep up with the competition, Fitbit has been continuously rolling out a range of smartwatch options such as its first-ever Alexa-compatible watch. In September, Fitbit announced that its future smartwatches will have heart rhythm monitoring feature.

Fitbit's own smartwatch operating system, called Fitbit OS, offers a personalized dashboard that allows users to check daily stats, see personalized insights and reminders to help them reach their fitness goals.

Fitbit and Google have yet to release a statement, but sources told Reuters in September that Fitbit was in talks with investment bank Qatalyst Partners about a potential sale.

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<a href="/latest_stories/all/all/81" rel="author">Mandy Jean</a>
Mandy covers the latest news in Tech and Business.

 

 

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