On September 23, Fitbit, which entered the wearable smart device market in the early stage, came out with the news that it would be sold.
Fitbit may work with venture capital bank qatalyst partners to find suitable potential buyers to find a way out in the fierce wearable device market, foreign media reported.
According to the report, Fitbit has not yet decided whether to sell to the outside world. Venture capital bank qatalyst partners suggested that Fitbit consider a variety of options. If Fitbit is sold to the outside world, Google’s parent company alpha and a number of private investment institutions are interested in acquiring Fitbit.
Currently, Fitbit has a market value of about US $1.1 billion, and its products include sports bracelets, smart watches, etc., involving a variety of wearable categories. In addition, Fitbit has also set foot in mobile payment services, and launched peripheral accessories such as earphone products.
However, due to the entry of Chinese mobile phone brands such as Huawei and Xiaomi into the wearable device market, the price of wearable smart devices has decreased significantly, which makes many wearable device manufacturers, including Fitbit, face great challenges and may choose to sell them.