US smart bracelet maker Misfit, which selected Beijing as its venue to launch globally Shine 2, its next generation activity and sleep monitoring bracelet, was acquired by the Fossil Group for $260 million in November.

This was seen as a sign of consolidation in the industry.

Sonny Vu, founder and CEO of Misfit Wearables, delivers a keynote speech on October 21, 2015 during the global launch event of Shine 2 held in Beijing. [Liu Zheng/chinadaily.com.cn]