![]() ![]() With the revenue from smartwatch sales industry-wide set to double to $34 billion by 2023, the company’s urgency is understandable. Fitbit’s technical chops could help Google come up with a wearable to take on its biggest rivals. But the company’s products haven’t matched up to the competition, like the Apple Watch or Samsung’s Galaxy Watch. Google has already spent big money on wearable tech - in 2019, it paid $40 million for technology and personnel from watchmaker Fossil Group’s research and development team, for instance. ![]() If completed, the move would spell the end of an independent Fitbit, a 12-year-old hardware firm credited with popularizing the self-quantifying phenomenon that has so many of us comparing our daily step counts against our friends and loved ones. In announcing its planned $2.1 billion acquisition of fitness tracking company Fitbit, Google said the deal will “help spur innovation in wearables” - at least, that’s how Senior Vice President of Devices & Services Rick Osterloh put it in a blog post. ![]()
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