Grabbing Pebble’s software talent and other resources, like its developer relationships, may help Fitbit better compete with Apple’s Watch. After years of focusing on fitness wearables, Fitbit got into smartwatches with the introduction of the Blaze this year. Industry shipments slumped 52% in the third quarter, according to research firm IDC, and Pebble cut a quarter of its staff earlier this year.Īpple Watch sales have been lackluster compared with iPhones, although chief executive officer Tim Cook told Reuters Tuesday that sales are “off the charts."įitbit has had its own struggles, with its stock slumping 34% on 3 November after the company cut a holiday sales forecast. The Pebble fire sale is the result of financial struggles in a smartwatch market that failed to grow as quickly or as large as initially hoped and hyped. “With basic wearables getting smarter and smartwatches adding health and fitness capabilities, we see an opportunity to build on our strengths and extend our leadership position in the wearables category," said James Park, chief executive officer and co-founder of Fitbit.
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