Google has finally agreed into terms of buying Fitbit for nearly $2.1 billion. It will be giving the US tech, a huge entry into the wearable technology space. The two companies have been announcing the same exposure on 1st November 2019.
The move comes with Google has been moving forward to expand itself from its core business of online search. They have ventured into the hardware. And where Fitbit has been striving hard against rivals like Apple as well.
Co-founder of Fitbit and chief executive James Park stated, “We have built a trusted brand that supports more than 28 million active users around the globe who rely on our products to live a healthier, more active life,”. He stated the same when both the companies have announced their deal.
He further added that Google becomes an ideal partner for the advancement of its mission. Fitbit will be able to conduct acceleration to new innovations in the wearables category. This will help in steady growth and make health more accessible to everybody. He has been quite excited for the new venture and looks forward to betters deals.
Rick Osterloh, Google senior vice president for devices and services, said the deal for the wearable tech pioneer is one “bringing together the best hardware, software and AI, to build wearables to help even more people around the world.”
So here, Fitbit becomes one of the first to create a buzz among the fitness brands. It lost its ground in recent years due to the tough competition of their rivals.
In a survey, conducted by IDC for the second quarter of 2019, Fitbit is in the 4th place in the market. This is mainly led by China’s Xiaomi leading the global market, followed by Apple — which makes the leading smartwatch — and Chinese-based Huawei.
Fitbit launched its own smartwatch back in 2017 but could not make its way when Apple Watch made debut in the industry.
Google has already been facing huge buzz and pressure from regulations globally over its sheer popularity and dominance on the internet search industry. It also has been boosting its hardware presenting. This further includes Pixel smartphones and tablets, along with connected speakers.
Utsha Roy is an aspiring writer who has been gaining knowledge on various genres. Delving into the different cars and gadget news, she has also engaged herself into showcasing latest vehicles and gadgets news and reviews over Autonmobiles.com
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