In an attempt to grab a bigger piece of the pie in the wearable market, Google is looking to buy US-based fitness wearable maker Fitbit for an undisclosed sum, media reported. Google’s Fitbit acquisition will put the search giant direct in the crosshairs of Apple, Samsung, and a few other players that are already competing in the segment. While Google has already been crowned to have the best camera phones, but it is yet to offer a Google-branded smartwatch.
According to Reuters, while the negotiations are taking place between Google and Fitbit, there is no certainty that the deal will successfully close, as the sources claim the matter to be highly confidential.
The only presence Google currently has in the wearable space is the software it offers. Wear OS is used by LG, Fossil and a few other brands to power their smartwatches. While Apple is considered as the segment leader, thanks to the advanced tech present inside its Apple Watch Series, other Chinese players such as Xiaomi and Huawei are gradually making their presence strong in the sector, especially in China.
Industry experts believe that Fitbit would also benefit from this deal, as the company is struggling to grab a substantial market share with Chinese companies like Xiaomi and Huawei that offer relatively affordable fitness trackers with similar features.
Last month, Google was reported to be working on a new hybrid smartwatch – the Pixel Watch, which will run on Wear OS operating system. The company has also acquired a new hybrid watch technology and approximately 20 engineers from Fossil for $40 million.