Popular wearables maker Fitbit is on the verge of buying smartwatch company Pebble, according to a report this week from The Information. Various reports have estimated the cost to be around $34 million – 40 million, and say that Fitbit will likely shutter the Pebble brand in the process.
That last bit has made Pebble loyalists freak out.
But as this chart from Statista shows, it makes sense. While Pebble’s line of simple, charming smartwatches have earned it a loyal following, that group of devotees just isn’t big enough, especially compared to a leading rival like Fitbit. After massive layoffs and continued signs that smartwatches are flailing, the writing is on the wall.
NOW WATCH: Tech Insider videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.