Jawbone has reportedly stopped production of it’s Fitness Trackers
Jawbone has stopped making its UP fitness trackers and sold its remaining inventory to a third-party reseller. Jawbone has three major fitness trackers: The UP2, UP3, and UP4. The company has struggled to sell the devices and was forced to offload them at a discount to a reseller in order to get the revenue it needed to keep the business going, according to an article on Tech Insider.
It’s been a year since Jawbone released a new device and it’s investors have been devaluing the company for quite some time now.
Jawbone raised a new $165 million round of funding in January. The company’s CEO Hosain Rahman told TechInsider a few months ago that the company plans to use that money to develop clinical-grade fitness trackers.
The wearable market has been booming for the past couple of years and Jawbone was the first one to introduce one in the segment. Yet, it has failed to gain traction in the market due to stiff competition from Fitbit and Apple. Even crowd funded companies like Pebble has been doing significantly well in this space, and their latest foray in fitness market is commendable.