Oct 9, 2019

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.

  • Fitbit said it began looking to move during 2018 as the trade war heated up.
  • It has not yet revealed where it will be relocating.

Between the lines: Reuters reported last month that Fitbit is also in talks to be bought by an investment bank.

Go deeper: Data collection from fitness tech has crime-solving capabilities

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Google parent company reportedly in talks to acquire Fitbit

The Fitbit Versa smart watch. Photo: Smith Collection/Gado/Getty Images

Google's parent company Alphabet Inc. has made an offer to buy wearable device maker Fitbit Inc., according to Reuters.

Why it matters: Google has yet to develop any wearable smart devices like its competitors Apple and Samsung Electronics, but it could get a piece of the crowded market with Fitbit.

Go deeperArrowOct 28, 2019

Google to acquire Fitbit for $2.1 billion

Photo: Lyu Liang/VCG via Getty Images

Google is buying Fitbit for $2.1 billion in a deal expected to close in 2020, the fitness company announced Friday.

Why it matters: It's an attempt by Google to "bolster its lineup of hardware products, which already includes smartphones, tablets, laptops and smart speakers. Fitbit makes a lineup of fitness-tracking devices, but has faced stiff competition from Apple after the introduction of the Apple Watch," The New York Times reports.

Go deeperArrowNov 1, 2019

It may be time to get bullish about the U.S-China trade war

Illustration: Lazaro Gamio/Axios

All is calm on the trade war front, and investors are starting to believe that things may just get better.

What's happening: Goldman Sachs research analysts said in a note Sunday evening that they now believe "tariffs on imports from China have likely peaked" and are shifting their view, thanks to "recent developments and apparent progress in US-China negotiations."

Go deeperArrowNov 4, 2019