Fitbit has misplaced market share to Apple, Xiaomi, Samsung and Huawei.
Alphabet Inc’s Google has accomplished its $2.1 billion acquisition of wearable system maker Fitbit Inc, the businesses stated on Thursday.
The deal had triggered considerations over Google’s market energy and the usage of folks’s well being information in focused promoting. The corporations gained antitrust approval from the European Union in December after Google agreed to restrictions on the way it will use prospects’ well being associated information.
“This deal has always been about devices, not data, and we’ve been clear since the beginning that we will protect Fitbit users’ privacy,” Google stated in a weblog publish on Thursday. Fitbit, as soon as the chief within the wearable gadgets market, has misplaced market share to Apple, Xiaomi, Samsung and Huawei lately.
