Fitbit was reported to be considering selling up, as it struggles to transition from making fitness trackers to smartwatches and compete with rivals including Apple and Samsung.
Reuters said the company had discussed the possibility of a sale with investment bank Qatalyst Partners, although no decision has been made as talks are at an early stage.
A source told the news agency Qatalyst Partners had advised Fitbit to look at its options, as the bank believes the company could attract Google parent Alphabet and private equity companies as potential buyers.
In 2017, Fitbit was reported to be facing difficulties in shifting focus from fitness trackers to smartwatches.
The company also faced increased competition in its core fitness tracker segment, due to cheaper offerings from Chinese companies including Xiaomi and Huawei.
In an effort to boost sales and boost market share, Fitbit announced a low-cost version of its Versa smartwatch in March.Subscribe to our daily newsletter Back