Jawbone may drop Consumer Wearables in favor of Clinical Wearables
Despite Jawbone refuting claims of an impending exit from the wearable tracker market, reports regarding the matter continue to emerge. Last year, rumors came out that the company was halting the production of all its fitness trackers, and its customer service provider dropped it for unpaid services. Now a new report by TechCrunch says the wearable maker is fully abandoning consumer wearables to shift to the creation of products and services for clinicians and health care providers.
Jawbone is reportedly raising funds for the transition, and TechCrunch says it already collected as much as $951 million from big-name investors like JP Morgan. Unfortunately, it already spent almost all of that money “with very little to show in returns.”
Jawbone hasn’t confirmed whether it’s truly adopting a B2B model, and its UP fitness trackers are still on its website. TechCrunch notes that the company has been silently selling its assets in the past few months, though not to mention, it’s been a couple of years since it launched the latest UP variant.
Looking at their history, Jawbone seems to building a reputation on non-lasting successes. Their speakers and headsets were very popular, but the company was unable to stay very relevant in a quickly evolving audio industry. They then moved on to wearables, where they found a receptive market, but that also didn’t last long.