Wednesday, December 7, 2016

Pebble Sells IP To Fitbit, Halts Sales Of Smartwatches

Smart watch maker Pebble confirmed on Wednesday that it is selling its assets--but not its hardware--to San Francisco-based Fitbit, and will no longer be selling its smartwatches to the public. Pebble said, in a blog post, that it is "no longer able to operate as an independent entity" and that it is no longer manufacturing its smart watches. In addition, Pebble said that Kickstarter backers who have not received their rewards will receive a refund in 4-8 weeks via their credit card, that it no longer will provide warranty support, and that Fitbit will be incorporating Pebble's intellectual property into its own products.