Wearable fitness device maker Fitbit is reportedly dropping a patent case against its rival company Jawbone.
A year ago, Fitbit accused Jawbone of violating its patents. The company had filed a complaint regarding the same with the US International Trade Commission. However, it has now withdrawn the complaint after recognising Jawbone’s financial status in the market.
If Fitbit had pursued with its complaint against Jawbone, it would have been prevented from selling any of its devices in the US. However, due to the company’s financial crisis, Jawbone has already stopped selling its wearables.
According to a report Wall Street Journal, in a filing, Fitbit said, “Jawbone appears to be a different company,” comparing it to when Fitbit filed its complaint last year. “SEC filings of one of its biggest investors now value Jawbone shares as worth nothing, as well as indicate that Jawbone has filed for bankruptcy or is in default.”
