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PHG - Fitbit Is Now Being Investigated by Trade Regulators
Koninklijke Philips N.V. NY Registry Shares
With plenty of scrutiny already building ahead of its acquisition by Alphabet subsidiary Google, Fitbit (NYSE: FIT) is now finding itself under an entirely different regulatory microscope. The U.S. International Trade Commission announced recently that it is opening an investigation into wearable devices. The probe is being opened in response to a complaint filed by Philips(NYSE: PHG), the Netherlands-based health technology giant.
Here's what investors need to know.
Fitbit's wearables have performed much better in the market than Philips'. Image source: Fitbit.