Nike Sticks A Fork In FuelBand Wearables, Fires Development Team

Well, that was a relatively short run for shoe maker Nike. After barely more than a year of market activity, Nike's reportedly decided to just not do the wearable computing thing and is shutting down its FuelBand division. That means there won't be a slimmer version coming out this fall as originally planned, and many of those involved in the effort will have to look for employment elsewhere.

News of the disbanding comes from CNET, which is getting its information from "a person familiar with the matter." Nike also chimed in on the report, though the information it gave was fairly standoffish and not very specific.

FuelBand

"As a fast-paced, global business we continually align resources with business priorities," a Nike spokesman told CNET. "As our Digital Sport priorities evolve, we expect to make changes within the team, and there will be a small number of layoffs. We do not comment on individual employment matters."

The FuelBand team is comprised of about 70 people, around 30 of which are located at Nike's Hong Kong offices; the rest are at Nike's Beaverton, Oregon headquarters. They're part of a larger division -- Digital Sport -- focused on technology and served by around 200 employees. Out of the 70 people associated with FuelBand, around 55 are said to have received pink slips.

Wearables are a hot ticket item right now, at leads in the minds of companies that are pushing them. Given that it's a relatively new category, it's not yet known what kind of interest is out there for things like smart watches and digital wristbands.

Via:  CNET
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