Following Pebble, US wearable device maker Fitbit today acquired the European smart watch manufacturer Vector Watch.
Founded by several former Citizen executives, Vector Watch is headquartered in London and has a core R&D center in Romania. Vector Watch currently offers more than 10 smart watches, with up to 30 days of battery life, similar to Pebble's user interface, and classic body design, making Vector Watch products popular.
According to Vector Watch, Fitbit only acquired its software platform and team members, not including its hardware products. This is exactly the same as the previous acquisition of Pebble. Fitbit announced in December that it has acquired Pebble, the "original" of smart watches, but only includes Pebble's specific assets, including intellectual property for core employees, software and firmware development, but does not include hardware products.
Vector Watch does not say whether the company will be closed, but industry insiders say that both the software platform and R&D personnel have been acquired, and Vector Watch is hard to survive. Vector Watch said in a statement: "We will continue to support the Vector Watch smartwatch." Surprisingly, Vector Watch also said it will continue to sell its smartwatch products, although this is likely to be inventories.
According to IDC data, global smartwatch shipments fell by 51.6% in the third quarter of 2016, but overall wearables shipments increased by 3.1% year-on-year. Among them, Fitbit performed the best, with 5.3 million units shipped, an increase of 11% year-on-year and a market share of 23%.
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