Yesterday morning, Google announced they are buying Fitbit for the price of $2.1 billion. This strategic move shows Google’s desire to compete more heavily with Apple in the high-tech hardware space. The company’s smartphone, the Google Pixel, has been gaining popularity recently and this acquisition of Fitbit will allow them to launch a dynamic smartwatch to compete with Apple.
Fitbit is already a well-established brand with a loyal user base, so Google was adamant about informing them that they will have the ability to review, move, or delete their data. This move will allow Google to place their iconic brand name over an already popular and glorified product as they have now effectively bought their way into the wearables market. Fitbit’s fitness brand hardware also accelerates the process for Google to build a smartwatch of their own and compete with Apple’s highly popular smartwatch. Google continues to diversify their scale of products and services and this acquisition now paves the way for them to make a splash in the trillion-dollar health care industry.
Business Barrage 