Sep 21, 2019

The big squeeze on Fitbit

Fitbit. Photo: Rachel Murray/Getty Images for Fitbit Loca

Fitbit is allegedly exploring the possibility of a sale that could attract Alphabet Inc., which owns Google, as it struggles to maintain a strong market presence, reports Reuters.

The big picture: Apple and Samsung continue to develop more sophisticated wearable devices that Fitbit can't compete with since it is only used to track fitness. Meanwhile, competitors are starting to emerge from China’s Huawei Technologies Co. Ltd., and Xiaomi Corp, and that's cutting into Fitbit's dominance in the fitness tracking sector, says Reuters.

Go deeper: The shortcomings of wearable health devices

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Fitbit will move production out of China amid trade war

Photo: Rachel Murray/Getty Images for Fitbit Local

Fitbit Inc., which produces wearable fitness devices, will move its production out of China in January amid the ongoing U.S.-China trade war, Reuters reports.

The big picture: In June, Fitbit joined a group of more than 600 companies to pen a letter in opposition to the trade war, specifically regarding President Trump's plan to continue raising tariffs on Chinese products.

Go deeperArrowOct 9, 2019

Report: Huawei in "early-stage" talks to license 5G network to U.S. companies

The Huawei Germany headquarters on Oct. 15. Photo: Rolf Vennenbernd/picture alliance via Getty Images

Chinese telecom giant Huawei has reportedly held early-stage discussions in recent weeks with unnamed U.S. telecoms companies on "licensing its 5G network technology to them," a Huawei executive told Reuters exclusively.

Why it matters: The U.S. and China are locked in a race to get 5G networks up and running to connect devices and machines at lightning speed. U.S. critics have accused Huawei of being complicit in Chinese espionage, a beneficiary of theft of trade secrets and a violator of trade sanctions. Historically, the U.S. preferred European equipment-makers Ericsson and Nokia as suppliers of 5G technology.

Go deeper: Why Huawei is the United States' 5G boogeyman

Keep ReadingArrowOct 19, 2019

Peloton CEO John Foley on post-IPO falling stock price

Illustration: Sarah Grillo/Axios

Peloton CEO John Foley told Axios on Thursday that he isn't too concerned about how the connected fitness company's share price has fallen sharply in its first day of post-IPO trading.

"I'm following it like everyone else, but trying not to take it too personally or getting too discouraged after a couple hours of sideways trading. Obviously, we'd rather have it going the other way, but I don't think it's a reflection on our fundamentals or the excitement of investors who came in. This is a long journey."
Go deeperArrowSep 26, 2019