Reports have indicated that connected fitness marque Fitbit could purchase smartwatch maker Pebble for an undisclosed amount.
If at first you don’t succeed, buy a smartwatch manufacturer and try again. At least, that’s what Fitbit’s latest effort could resemble as numerous sources have suggested that the iconic fitness marque could purchase smartwatch maker Pebble.
Pebble, best known for its series of smartwatches under the Time moniker, could be acquired by Fitbit for the relatively small amount of $34-40 million USD; the deal could reportedly ease Pebble’s debt to suppliers which is apparently in excess of $24 million USD.
Luxury watch manufacturer Citizen was rumoured to have put in a $740 million bid to purchase Pebble in 2015, though that was before the latter company’s Time Round smartwatch performed poorly in the market.
Pebble announced earlier this year that it was set to retrench 25% of its workforce, effectively leaving the company hard pressed to find a success in its product range.
Should Fitbit move to acquire Pebble, the resulting combination could – against all odds – prove favourable in the market. While the wearable market has grown slowly, smartwatch sales have begun to tank en masse.
The only company successfully making a go of the market segment is, surprisingly, Garmin, which has focussed on providing extreme sports-tracking hardware coupled with smartwatch functionality.
Pebble, then, could provide the widest range of operability as a smartwatch, while Fitbit could contribute its fitness tracking smarts to create a rival product to Garmin’s Vivo series of products.
What are your thoughts? Would you be interested in purchasing a smartwatch made possible by a Fitbit-Pebble alliance? Be sure to let us know your thoughts in the comments below!