Google is eyeing the health and fitness market with an acquisition of Fitbit, which would put Google in a position to compete with Apple by rachsandl
Google’s parent company Alphabet has made a bid for Fitbit, Reuters reported, but it is unclear how much the search giant offered for it.
The companies are currently in negotiations, and Reuters reported that there is no guarantee a deal will be made. Fitbit’s stock leaped 18% before trading was halted, a measure reserved for instances in which demand is so high investors need time to catch up. Now, the stock is up more than 27% after trading resumed.: While Alphabet’s competitors in the smartphone market—namely Apple— have made sizable investments in fitness tracking, Google doesn’t have a flagship wearable product yet.
Apple’s investment in wearables has paid off and has far outpaced Fossil and other smartwatch products. Apple Watch is the most popular smartwatch in the world, with more than 51% of global market share,
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