MobiHealth News September 23, 2019
Reuters reported on Friday that Fitbit is weighing a sale of its business. While nothing is set in stone, the fitness wearables and health services company is said to have brought on investment firm Qatalyst Partners to explore its options, with the latter pushing for Alphabet or private equity firms as potential buyers.
The report pins Fitbit’s new mindset on middling smartwatch success, which the company noted during its Q2 earnings call last month. While Fitbit noted an overall year-over-year revenue increase of 5%, sales of the Versa Lite were $150 million below expectations.
“We subsequently reduced our Versa Lite sales expectations for the remainder of the year and are lowering our full-year 2019 revenue gross margin guidance,” James Park,...
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