Wearables market quickly jumping the shark — consolidation ramping up
Fitbit reportedly is close to acquiring smart watch maker Pebble, a sign of a contracting wearables market where multiple players are struggling to keep afloat. The deal was first reported by tech news site The Information.Fitbit is purchasing the company for $34 to $40 million, according to Engadget, and it doesn’t look like the purchase price will cover all of Pebble’s debts. Earlier this year, Pebble laid off 25% of its workforce.
Source: New Signs of Weakness in the Wearables Market – eMarketer
