comscore Fitbit reportedly close to buying Pebble for around $40 million
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Fitbit reportedly close to buying Pebble for around $40 million

Post the acquisition, Fitbit would phase out the Pebble brand completely.

fitbit-alta

While Fitbit is known for its fitness tracking devices, it has been facing its share of financial downfall lately. On the other hand, US-based Pebble has long been struggling to enter the mainstream smartwatch market. Now, reports are coming in that Fitbit may be working on acquiring Pebble. This news comes as both Fitbit and Pebble have been evidently seen facing declining revenues in the wearable industry. And if this report is true, it s also been said that the acquisition may lead to phasing out of Pebble s brand entirely. Also Read - Google Wear OS updated at I/O 2021, co-developed with Samsung and Fitbit

Also Read - Top 5 smartwatches with menstrual tracker for women: Garmin Lily, Amafit GTS 2 mini, more

The news about the eventual acquisition was first broken by The Information, which says that the deal will be worth a ‘small amount’. Citing sources, TechCrunch says that this small amount could be somewhere between $34 million and $40 million. The report suggests that Fitbit is primarily looking to take over the intellectual property of Pebble, including its smartwatch OS. This acquisition may lead to Fitbit going beyond fitness trackers, and launch advanced smartwatches that can go head-to-head against the likes of the Apple Watch and Samsung Gear S3. Also Read - Here's the reason why NASA is offering Fitbit Charge 4 fitness device to employees

Last month, Fitbit reported mixed third-quarter earnings and posted weak guidance for its fourth quarter. The company reported adjusted earnings of 19 cents per share, in line with Wall Street expectations. Its revenues of $504 million missed expectations of $507 million. Fitbit also gave weak guidance for its upcoming fourth quarter, and is now expecting revenues between $725 million and $750 million for the holiday season. Pebble is reported to have been looking for an acquisition deal for quite some time now, declining profits saw the company lay off a quarter of its workforce.

This acquisition could really help Fitbit get back on its feet. Global shipments of wearables grew by 67.2 percent to 19.7 million units in the first quarter of 2016, IDC reported. And Fitbit has continued to top the tally with 4.8 million units and 24.5 percent market share in the first quarter of 2016. The company is followed by the likes of Xiaomi, Apple and Garmin with 19 percent, 7.5 percent and 4.6 percent share of the market, respectively.

Fitbit s latest offering in the market is Fitbit Charge 2 and Fitbit Flex 2. Both the fitness trackers are successors to the Flex which was released in May 2013 and the Charge HR which was released in January 2015. The Fitbit Charge 2 is priced at Rs 14,999, and Fitbit Flex 2 is priced at Rs 9,499. ALSO READ: Fitbit Charge 2, Flex 2 fitness trackers launched in India, prices start from Rs 9,499

The Fitbit Charge 2 comes with a display that is four times larger than its predecessor Fitbit Charge, and shows calls, texts and calendar alerts with tap display. The clock faces are also customizable and can be changed according to what stat a user wants to see. Fitbit claims that the battery life for the wearable is up to five days on a single charge. Users can get a personalized cardio fitness level and score that is calculated on their profile, heart rate and exercise data. Users can also get guidance on improving their exercise routine. The other feature innovated with the PurePlus is called Relax which include personalized deep-breathing sessions. Additionally, it comes with a GPS for location tracking, and SmartTrack for keeping a tab on fitness activities.

The Fitbit Flex 2, on the other hand, is 30 percent smaller than its predecessor. Fitbit Flex 2 is a removable tracker which fits into interchangeable bands, bangles and pendants. Its design is more ornamental than other traditional trackers. Flex 2 is Fitbit s first swim-proof wristband as it is water resistant up to 50 meters and also tracks swim laps, duration and calories burned in the Fitbit app. Like the Fitbit Charge 2, Flex 2 is also equipped with SmartTrack to track select workouts and Reminders to Move which gives friendly reminders. Flex 2 features a simple LED display which uses color-coded lights to alert with daily goals and notify texts and calls.

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  • Published Date: December 1, 2016 1:20 PM IST



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