Fitbit (FIT) - Get Report has had enough of the fallout from the trade war between the U.S. and China and as a result will move manufacturing operations outside of China for all of its trackers and smartwatches.
Starting in January 2020, the products will no longer be of Chinese origin, and therefore not subject to Section 301 tariffs.
"In 2018, in response to the ongoing threat of tariffs, we began exploring potential alternatives to China. As a result of these explorations, we have made changes to our supply chain and manufacturing operations and have additional changes underway," said Ron Kisling, chief financial officer of Fitbit.
Fitbit shares were rising 1.5% to $3.74 in trading Wednesday. The stock has declined more than 20% year to date.
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