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Fitbit will move manufacturing outside of China to avoid US tariffs (FIT)

FIT stock

  • Fitbit announced on Wednesday that its in the process of moving all of the company’s manufacturing operations out of China amid the ongoing threat of US tariffs.
  • The company said it started looking for other locations to manufacture its trackers and smartwatches after the US-China trade war began in 2018.
  • According to Fitbit’s statement, the company will provide more details on the financial impact of the transition during its third-quarter earnings call.
  • Shares of Fitbit tumbled as much as 3% on the news.
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Fitbit said on Wednesday that it’s read more >>>

Source:: BusinessInsider.Com