Revolution In The Wearable World: Google Acquires Fitbit At $2 Billion
Google announced the acquisition of Fitbit, a sports equipment and accessories company. The deal value is about $2.1 Billion. In fact, this is the second smartwatch company took by Google after Fossil acquisition.
Fitbit is a company focused on sports wearable with more than 12 years of experience. It has a wide variety of devices, such as activity wristbands, sports watches or smart scales. According to Google Vice President, the Fitbit purchase is “an opportunity to invest even more in Wear OS, as well as launch Wearable Made by Google devices on the market.”
TheVerge notes that this deal is of great importance to Google. Because, for many years, Google has been trying to break the wearable market using its Wear OS platform. In fact, Google aims to bring innovative wearable with its SOLI Radar chip inside. This can be a new revolution of wearable market in 2020.
Fitbit over the past few years has seriously improved its position in the smartwatch market. So, in 2018, the company took second place in the world, increasing its share from 1.7% to 12.2%. This result allowed to overtake Samsung and Garmin. Only Apple is ahead, with which the manufacturer will compete further, but already as part of Google.