Fitbit has been working on acquiring a new project for some time, but with their recent Pebble acquisition, they could be rolling out a new, improved fitness watch for the public very soon.
Because of this recent acquisition, Digital Trends predicts that Fitbit will start focusing more efforts on the perfect smartwatch than fitness watches. The smartwatch market has been notoriously struggling over the past year, but Fitbit is not afraid to venture into the territory and see what they can do.
Fitbit has the potential for changing the smartwatch industry. Their highly successful fitness wearables are the most popular in the country, and Fitbit’s CEO announced that they want to take a different approach to the smartwatch.
About the Acquisition
Pebble is one of the smartwatch pioneers, and now Fitbit will purchase them for approximately $40 million, reports Android Headlines.
This purchase price is quite the steal, considering the technology Fitbit receives in return.
Fitbit is absorbing all of Pebble, including the technology and employees that have helped create it. Pebble pioneered the smartwatch, but over the past few years, their sales have dramatically decreased. With Fitbit being the most recognized name in wearables, Pebble gave in to the sales offers.
Who is Fitbit?
For those that are not familiar with Fitbit, they are the leading fitness wearable company. They focus on fitness trackers, such as the Charge and Charge 2, which have been highly successful for their brand.
Pebble, on the other hand, concentrated on the smartwatch category, but over the past few years, they have dabbled in fitness tracking and notifications on their smartwatches.
Pebble has been notorious for creating smartwatches that frequently interact with their user, and they are good at creating powerful technology. Compared to other smartwatches, the technology in the Pebble versions was impressive.
While Fitbit has been working on their line of smartwatches, they have not been as successful as their fitness trackers.
Smartwatches Not as Popular
Sales figures pulled from 2016 show that consumers are not interested in smartwatches. Fitness trackers do an adequate job of bridging the gap for those that want notifications, but still want to keep track of their health.
At the time the acquisition was announced, Fitbit had not stated if they were making smartwatches. However, most tech industry professionals believe that is the only reason Fitbit would acquire Pebble.
Whether Fitbit purchased Pebble for hardware or software will soon come to light. Fitbit has also purchased Coin to create a powerful NFC payment solution, but they have not specified if that will be for their watches or another hardware system they are going to build in the future.
By having access to the operating system that has proven successful in the past for Pebble, Fitbit may soon become the leader in smartwatch technology.
They will, however, have to combat the lowering consumer interest in this wearable tech industry. They are off to a good start with Pebble because now they will not have to create an operating system from scratch.