Google Acquired Fitbit For $ 2.1 Billion; Xiaomi Rivals Smart Watch Industry

Google Acquired Fitbit For $ 2.1 Billion; Xiaomi Rivals Smart Watch Industry

Google acquired Fitbit for $ 2.1 billion; Xiaomi rivals smart watch industry

American technology giant Google, wearable exercise equipment and smart watch manufacturer Fitbit’i announced that the agreement for the purchase of $ 2.1 billion.

Fitbit, under the agreement announced by Google’s Vice President of Devices and Services Rick Osterloh, entered under the roof of Google. It was decided not to make any changes in the name of the company that will continue its activities as a private company. At the beginning of the year, 40 million dollars, including Fossil’i Google Xiaomi and Apple Watch in the smart watch market against the hand has strengthened further.

American technology giant Google, wearable exercise equipment and smart watch manufacturer Fitbit’i announced that the agreement for the purchase of $ 2.1 billion.

Fitbit, under the agreement announced by Google’s Vice President of Devices and Services Rick Osterloh, entered under the roof of Google. It was decided not to make any changes in the name of the company that will continue its activities as a private company. At the beginning of the year, 40 million dollars, including Fossil’i Google Xiaomi and Apple Watch in the smart watch market against the hand has strengthened further.

Xiaomi rivals coming

Google, “OS Wear OS” previously called the operating system and applications, wearable devices had stepped into the field. Although this system is used by many watches, the technology giant has not yet entered the smart watch market with a physical product. With the acquisition of Fitbit, the company aims to change this situation and has become a serious competitor of the leading Chinese technology giant Xiaomi.

 

Google Acquired Fitbit For $ 2.1 Billion; Xiaomi Rivals Smart Watch Industry

Google Acquired Fitbit For $ 2.1 Billion; Xiaomi Rivals Smart Watch Industry

 

Because Fitbit manufactures wearable devices that digitally monitor personal health and activity information such as heart rate, steps taken during the day and sleep quality, Fitbit has sold more than 100 million devices to date. Fitbit currently has 28 million active users worldwide.

Xiaomi, the market leader, holds 17 percent of the wearable devices market. Fitbit is the third most important company in the industry with a 10 percent share, while the Chinese company follows Apple.

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