Fitbit is considering putting itself up for sale

Fitbit is considering putting itself up for sale. The company would do so because of difficulties with the switch from fitness trackers to smartwatches. The American firm is said to be in talks with an investment bank.

Fitbit would struggle with competition from companies such as Apple, Samsung, Xiaomi and Huawei, according to Reuters sources. Today, wearables like the Versa 2 are competing with it, which is more than just a fitness tracker. Earlier this year, the company lowered its revenue forecast for 2019.

The situation is in contrast to two years ago, when the company was number three in the market, far from number four. At that time, the firm was also quite on the take-over path, swallowing Vector, Pebble, Fitstar, Twine Health and Coin in a few years.

Fitbit is in talks with investment bank Qatalyst. However, neither Fitbit nor Qatalyst responded to Reuters’ requests for comment. Reuters sources emphasize that no actual decision has yet been made regarding the sale.