Earlier, foreign media had already announced that Fitbit would acquire competitor Pebble. On Wednesday, Fibit officially announced that it has acquired Pebble.
In the winter of the wearable device industry, the two manufacturers have a hard time, so they are moving from competition to warming up.
It is reported that the acquisition is limited to specific assets (pebble core employees, intellectual property in software and firmware development) and does not involve the Pebble hardware business. Fitbit believes that the acquisition of Pebble will accelerate the expansion of its platform and ecosystem.
Fitbit did not disclose the purchase price. It was reported earlier that the deal was up to $40 million.
As for Pebble, after its acquisition, it will no longer operate as a company, and will also stop producing products – as the “originator†of smart watches, Pebble is so embarrassing.
Although the acquisition party Fitbit is also a wearable device manufacturer, its situation is no better than Pebble.
Foreign media reported that Fitbit's share price has dropped from $50 per share just listed to $8.4 per share today.
According to the 2016 Q2 data, Fibit products accounted for 25.4% of the market share, ranking first in the wearable device industry. Xiaomi wearable products and Apple Apple Watch ranked second and third, with market share of 14% and 7% respectively. Although Fitbit has a market share advantage, the high-end market is facing competition from Apple Watch. In the low-end market, the "price butcher" millet launched the bracelet product, which also put a lot of pressure on Fitbit.
One of the great benefits of this is that after taking the relevant assets of Pebble, Fitbit's product development strength and market share will be improved to better counter Xiaomi and Apple.
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