Technology: Fitbit Is Moving Out of China. Until Then, It Wants Relief From Tariffs - - PressFrom - US
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Technology Fitbit Is Moving Out of China. Until Then, It Wants Relief From Tariffs

01:40  04 november  2019
01:40  04 november  2019 Source:   bloomberg.com

Tell us who the Fitbit Versa Lite is good for

Tell us who the Fitbit Versa Lite is good for When reviews editor Cherlynn Low spent some time with the pared down Versa Lite smartwatch back in April, she was pleased by its comfortable fit, four-day battery life and capable tracking. But she still couldn't recommend it, as the regular Versa offers WiFi, an altimeter and a gyroscope for only $40 more. This disparity earned the Versa Lite a fair but unimpressive score of 72, compared to the Versa's much better 83. If you bought the Versa Lite smartwatch, do you find yourself irritated by the missing features? Is it still a great device despite not being able to count pool laps or floors climbed? Were you bothered by the lack of onboard music storage, or the inability to

Among these are Chinese -made smartwatches from Apple and Fitbit (FIT.N), smart speakers from A trade group representative said USTR informed them that it opted to delay tariffs on items where The 21-page-list of products that will not get hit with tariffs until December also includes baby That move was met with a drop in China ’s yuan currency a few days later, prompting the Trump

As a result of the move , all of Fitbit 's fitness trackers and smartwatches will not be subject to Section 301 tariffs starting in 2020. Shares of Fitbit briefly rose 2% after the company announced Wednesday it plans to shift its manufacturing operations outside of China to avoid tariffs .

(Bloomberg) -- Fitbit Inc., soon to be acquired by Google, says it’s shifting manufacturing operations out of China for its health trackers and smartwatches to avoid U.S. tariffs. But until then, it wants relief from President Donald Trump’s duties.

a hand holding a remote control: An attendant holds a Fitbit Inc. Ionic smartwatch while talking to a visitor at the Wearable Expo in Tokyo, Japan.© Bloomberg An attendant holds a Fitbit Inc. Ionic smartwatch while talking to a visitor at the Wearable Expo in Tokyo, Japan.

The smartwatch maker has filed a request for an exclusion on the 15% duty that took effect Sept. 1 on its wrist-wearable communications devices, saying that while its goal is to eliminate the use of Chinese manufacturers, it “respectfully requests” a tariff waiver for its smartwatches and fitness trackers now imported from China.

Fitbit is reportedly in the early stages of exploring a sale

  Fitbit is reportedly in the early stages of exploring a sale Fitbit might be ready to cede some control of its destiny.Reuterssources said the company is talking to investment bank Qatalyst Partners about the possibility of shopping itself around to would-be acquirers. Qatalyst has reportedly been pressing Fitbit to consider the option for weeks, suggesting that Alphabet and private equity outfits might be interested if it did. A move is far from certain, but it's notable that a selloff is even on the table.Fitbit and Alphabet have both declined to comment.There might be good reasons for Fitbit to consider a sale.

The administration said it would consider raising proposed tariffs on 0 billion of Chinese The administration’s trade moves are aimed at forcing China to end what it calls unfair trade practices The Americans and the Chinese have been carrying out back-channel talks over how to resolve their

Fitbit to Move Manufacturing of Smartwatch, Tracker Out of China . Fitbit said it will give more details on the financial implications of the move during its third-quarter earnings conference Fitbit (FIT) today announced that it has undertaken a plan to shift its manufacturing operations outside of

The duties will allow Chinese firms such as Huawei Technologies Co. to gain U.S. market share while helping China’s data-collection and surveillance aims, the firm said.

“Tariffs that place U.S. brands like Fitbit at a disadvantage relative to Chinese competitors in the U.S. market will only further these objectives,” the company said in its exclusion request, which was posted online Oct. 31. The Office of the U.S. Trade Representative will make the determination.

The request for a tariff waiver was posted a day before before Fitbit announced that Alphabet Inc.’s Google had agreed to buy the wearable device maker for $2.1 billion in cash, a move that could shore up the internet giant’s hardware business while also potentially increasing antitrust scrutiny.

Apple keeps Mac Pro assembly in Texas after tariff relief

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Given that your smartphone is also a critical communication device, you don't want to risk losing Fitbit Pulls Out Of China To Escape Tariffs . The Trump administration’s trade policies have finally The company announced Wednesday that it would shift certain product manufacturing from China to

Since then , China has struck a sterner tone in its rhetoric, suggesting that a resumption of talks aimed at ending But he added that he believed that China would eventually make a deal with the United States “because they’re China is a massive competitor of ours. They want to take over the world.”

Exclusion Criteria

A message seeking comment was left with Fitbit outside of normal business hours.

Exclusion decisions are based on whether a product is available only from China, is strategically important or related to Chinese industrial programs, and whether duties will “cause severe economic harm” to the company or U.S. interests.

Fitbit said the vast majority of global production capacity for wrist-wearable communications devices is in China, and that while it’s aware of facilities in Taiwan and South Korea producing such devices, they’re fully owned by or contracted to competitors.

Fitbit said last month it’s moving manufacturing operations out of China and that starting in January, the firm expects its smartwatches and health trackers won’t be of Chinese origin and therefore not subject to import duties.

Supply Chains

In its exclusion request, Fitbit said it understands the Trump administration’s concerns about trade with China and “has taken significant steps to overhaul its supply chain and minimize its reliance on Chinese component suppliers and contract manufacturers.” It said those efforts are continuing.

Two Gadget Makers Look to Move Manufacturing Out of China, Citing Trade War

  Two Gadget Makers Look to Move Manufacturing Out of China, Citing Trade War Fitbit and Tile say tariffs are a threat to their businesses.Two American consumer electronics companies said this week that they’re looking to shift manufacturing away from China and into other countries, citing pressures from import tariffs on their products amid the trade war.

Until now that there's a fix for this issue. So if you go to App Store and you search for Fitbit . So now I will just buy this app and let's see if it works out . Alright, it downloaded really quickly and let's open it . Then it says, “tap sync now to connect to Fitbit . The first download may take a few minutes.”

“Apple will not be given Tariff waiver, or relief , for Mac Pro parts that are made in China . Make them in the USA, no Tariffs !” Representatives for Apple had no immediate comment on either the tariff or Texas plant comments on Friday. Shares of the company sharply pared their gains after the tweets.

“Fitbit has taken these steps in response to the Administration’s concerns, despite the costs and challenges of uprooting an established global supply chain that has been developed meticulously over more than a decade,” the company said.

The U.S. is accepting requests through Jan. 31 for exclusions from the latest round of tariffs on about $110 billion in Chinese imports, as the Trump administration seeks to negotiate a trade deal with China. Duties are also in effect on $250 billion in other Chinese goods, and a separate batch of about $160 billion in products is set to be hit with tariffs on Dec. 15 if a deal isn’t struck.

Trump is looking to sign a “phase one” agreement with Chinese President Xi Jinping this month, and the president said Sunday he expects the initial deal will be signed somewhere in the U.S.

Among the first companies to file exclusion requests for the latest round of duties besides Fitbit are Apple Inc., which is seeking relief from duties on the Apple Watch, iMac, parts for the iPhone and other components, Christie’s for certain imported art and antiques, and Square, Inc.

To contact the reporter on this story: Mark Niquette in Columbus at mniqu[email protected]

To contact the editors responsible for this story: Sara Forden at [email protected], Ros Krasny, Steve Geimann

For more articles like this, please visit us at bloomberg.com

©2019 Bloomberg L.P.

Fitbit and Google announce $2.1 billion acquisition deal .
Google announced plans on Friday to acquire Fitbit, the world's leading maker of wearable fitness activity trackers. © Myriam B/ShutterstockThe deal, worth about $2.1 billion, is one of Google's largest acquisitions. The wearable market is growing quickly. Although Google makes some hardware, including Pixel phones and Nest devices, it hasn't made much headway into smartwatches and other wearable devices.

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