Fitbit is buying Pebble, interesting times for smartwatches ahead

Pebble watches could face extinction

Despite the hype and coverage the Pebble watches get, successful Kickstarters haven't been enough to get the Pebble company going.

Alas, it seems that Fitbit might not be rescuing the company but seems more keen on its intellectual assets.

Fitbit Pebble, anyone?

Whatever Fitbit is paying for Pebble, apparently it's not a lot. Apparently Pebble and its products will soon be phased out while Fitbit focuses on using its intellectual property and software.

Pebble had buyout offers in the past from Intel and Citizen but Pebble's CEO turned both offers down. It's estimated the new deal will barely cover the company's debts.

Why is Pebble doing so badly? One reason is that the wearables market is facing a downturn with lack of interest in wearables in general.

While Apple is currently the king of smartwatches, it has also seen a dip in smartwatch sales. Garmin, on the other hand is selling more fitness watches than ever.

So, if you've been planning a Pebble purchase, you'd probably be better off waiting for the next generation of smartwatches instead as it seems soon there will no longer be Pebble watches, support or accessories to count on.

RIP Pebble, we hardly knew you.

[Source: Techcrunch ]