Google to acquire Fitbit to compete with Apple

As the competition for smart watches in the global market has been increasing, Fitbit’s sales have suffered over the past couple of years. Most of the competition comes from its major contender- Apple. In order to retake their place in the market, Fitbit has come up with a new strategy: It is going to join Google’s parent company, Alphabet, in order to make premium products to entice the customer. Both the companies have refused to give out a comment and no specific price has been announced as of yet.

“Fitbit would not be the first deal that Google would be carrying out in the wearables space. Fossil Group Inc. said in January it would sell its intellectual property related to smartwatch technology under development to Google for $40 million. Google’s plans for these assets are not clear.A deal for Fitbit would come as its dominant share of the fitness tracking sector continues to be chipped away by cheaper offerings from companies,” said a report that was featured in Reuters.

Fitbit was one of the first companies that had hyped up the concept of smart watches that could help you keep your health in check. Their original concept was that of introducing devices that were user friendly and could be linked to any mobile.