Fitbit is a pretty well-established name in the wearables space, where the company made a name for themselves well before companies like Apple did. However, fast forward to today, it’s hard to deny the dominance that Apple has in the market, along with other companies such as Xiaomi whose incredibly-cheap Mi Band is also a force to be reckoned with.
So much so that Fitbit is apparently thinking about selling itself, or at least that’s according to a report from Reuters. The report claims that Fitbit has been in talks with an investment bank about the possibility of selling itself off. Note that these talks are still in the very early stages and are mostly exploratory, which means that it is by no means confirmed that Fitbit will actually go through with it.
While it is unclear who might actually be interested in acquiring Fitbit, the report claims that Qatalyst, the investment bank that Fitbit is said to be in talks with, have been trying to persuade Fitbit to explore its options for a while now, and suggested that it could even attract from attention from the likes of either Google or Google’s parent company, Alphabet.
Google themselves does not make their own hardware and for a while now, we’ve heard that they could be looking to launch their own Pixel smartwatch. Google already has a partnership with Fossil, but perhaps acquiring Fitbit could give them the resources and infrastructure necessary to build it themselves.