A new report from Tech Insider has revealed that Jawbone is allegedly set to cease production of its Up fitness trackers and Bluetooth speakers.
Jawbone was one of the first wave of manufacturers to hit the market with its Up line of fitness trackers, but in the wake of failing to gain a sizeable amount of traction within the market, a new rumour has indicated that the company is set to cease production of both its fitness trackers and Bluetooth speaker line entirely.
While this could indicate the company’s decision to refocus or reposition by producing a new line of connected peripherals, the report paints a far more dire picture, as the company has allegedly sold the entirety of its inventory to a third-party distributor.
Read: Jawbone UP gets new design and colours
A separate report, from Fortune, claims that Jawbone is further seeking to sell its speaker business, despite their positive critical reception.
The company hasn’t produced a fitness tracker in over a year, leaving rival Fitbit to essentially dominate the market unopposed.
The company acquired $165 million USD in funding this past January, whereafter company CEO Hosain Rahman informed Tech Insider that the firm is planning to mass produce a clinical-grade fitness tracker for use by medical professionals and hospitals.
Jawbone have so far declined to comment on any of the rumours surrounding its product line, though given the fact that the company hasn’t produced a new device in over a year, indications of a return to market aren’t overwhelmingly positive.
Read: Jawbone Up 2 Review: Staying on track
What are your thoughts on the rumours surrounding Jawbone? Could the company be ready to close altogether, or is this the first indication we have of the company repositioning itself in the market? Be sure to let us know your opinion in the comments below!
Follow Bryan Smith on Twitter: @bryansmithSA
Source: Tech Insider