Equities

Reuters exclusively reports Fitbit considers whether it should explore a sale

Reuters exclusively reports Fitbit considers whether it should explore a sale

Fitbit Inc shares rose as much as 24% after Reuters was first to report that the wearable device maker has been in talks with an investment bank about the possibility of exploring a sale, amid challenges in successfully pivoting from fitness trackers to smartwatches. Fitbit has struggled to gain a foothold in the smartwatch category, as Apple Inc and Samsung Electronics Co have cornered a bigger share of the market with more sophisticated devices