Alphabet’s decision to pay $2.1bn for Fitbit looks even more peculiar in the wake of the fitness tracker company’s third-quarter results.

Fitbit might have once led the pack on health tech but that was a long time ago. Falling demand for its devices mean revenues in the past three months are down 12% on the previous year. It reported a net loss of $52m (R988m) on revenue of $345m.

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