Jawbone is reported to have ended production of its wearable devices, as the company’s future strategy came into question.
According to Tech Insider, Jawbone has sold its remaining inventory of Up trackers to a third-party reseller, enabling it to generate revenue from the devices more quickly – albeit at a discount. And it is not clear when – or if – new wearables are planned by the company.
Cnet reported that the company had said “with certainty…we are not selling our fitness tracker business” – a statement which does little to add clarity to the situation.
While Jawbone has a significant pedigree in the fledgling wearables space, it has not fully capitalised on growth in the fitness tracker market, where it lags companies such as Fitbit and Xiaomi. It has been more than a year since its last significant product update.
Earlier this year, Jawbone inked a significant funding round, although its valuation has decreased. Reports at the time suggested that the company was looking to enter the market for “clinical grade” fitness trackers, offering improved accuracy.
Separately, it was reported that Jawbone is also looking to offload its Bluetooth speaker business, in order to focus on “health and wearables”. The company is also – again – said to be looking to shift its inventory, working with “third-party distributors”.