Early investment in the development of the smart wearable device marketFitbit, earlier there were reports that it was preparing to sell it.
according toReuters NewsAccording to sources, Fitbit may work with venture capital bank Qatalyst Partners to seek suitable potential buyers to find another way out in the highly competitive smart wearable market.
Fitbit has not yet decided whether to sell itself, and Quantrist Associates continues to advise Fitbit to consider various options. If Fitbit were to consider a sale, Alphabet and several private equity firms would be interested.
Fitbit's current market capitalization is approximately US$11 billion. Its products include smart wearable devices such as fitness trackers and watches. In order to increase revenue opportunities, Fitbit has subsequently integrated mobile payment services and launched headphone accessories, hoping to extend more usage opportunities for its products.
However, the entry of Chinese brands such as Xiaomi and Huawei into the market has led to a significant drop in the prices of smart wearable devices, posing challenges to manufacturers such as Fitbit that originally entered the smart wearable device market. They have subsequently chosen to exit the market or, like Fitbit, continue to fight in the market.
