Smart watch market collapses in on itself
Once upon a time, $700 million ago…
Full featured smart watches are heading for the dustbin of fads. Pebble, the early darling of the market, is being bought by FitBit, another player that was fast out of the gate, but stumbled down the stretch. The purchase price is the first clue that something is drastically wrong with the segment. FitBit is picking up Pebble for $40 million, which, as a story in ReThink IoT explains, is a just shoot me price tag…
… MoreFor Fitbit, snapping up Pebble removes a real competitor in its segments, but for Pebble, it will rue the day that the company apparently turned down a $740m takeover bid from Citizen – the Japanese watchmaker.