Pebble to lay off 25% of workforce

Pebble logoAs more and more companies develop smartwatches, we're starting to see which will stick around and which will fall behind. Pebble is hoping that it could become one of the former companies—but it's cutting costs to stay afloat. In an interview with Tech Insider, Pebble CEO Eric Migicovsky revealed the company would lay off 40 employees, or about 25 percent of its entire workforce.

Migicovsky was slightly cryptic when explaining the reason for the layoffs, but he did say that Pebble would be carefully considering how to spend its money over the next year. "We've definitely been careful this year as we plan our products," Migicovsky told Tech Insider. "We got this money, but money [among VCs in Silicon Valley] is pretty tight these days."

According to the interview, Pebble has raised $26 million over the past eight months, which is in addition to its original $20 million raised back in February of 2015 when it launched its Pebble Time Kickstarter campaign. Migicovsky claims Pebble will focus its wearable device efforts on the health and fitness market going forward, and it will also start selling smartwatches in India via Amazon next month.

Pebble to lay off 25% of workforce

Since the beginning, Pebble's success has always been heavily based on its community of followers and developers. The Kickstarter for the original Pebble pulled in over $10 million, and since then the company has created upgraded, all-metal designs of its first smartwatch, redesigned its interface, and even designed a round version meant to appeal to the more fashion-conscious shopper. But now it appears even a strong community cannot prevent the shakiness of the wearable industry from affecting Pebble. The market for smartwatches and smartwatch hybrids continues to get crowded: Fitbit's Blaze debuted recently, and we saw the company's stock fall shortly after, and Apple lowered the price of its Watch to $299 this week. Pebble hasn't disclosed any sales figures recently; it's too early to know sales of Fitbit's Blaze; and aside from analyst projections, Apple Watch sales numbers are still shrouded in mystery.

Despite that uncertainty, experts do predict that in the wearables category, smartwatches will be the device in highest demand over the next few years. Pebble plans to be around to see that reality. "We want to be careful," Migicovsky told Tech Insider. "Pebble is in this for the long haul. We have a vision where wearables will take us in five to 10 years, and this is setting us up for success."

Source: Ars Technica

Tags: Pebble, smartwatch

Add comment

Your name:
Sign in with:
Your comment:

Enter code:

E-mail (not required)
E-mail will not be disclosed to the third party

Last news

Sales of new models way below those of 2017 generation
The new Windows 10 browser will run on the Chromium engine
Google will shut the service down in April of 2019 instead of August as initially planned
The regular S10 will sport a 6.1-inch panel with the same front-facing camera design
The smartphone has a 6.4-inch Full HD+ (2340 x 1080 pixel) Infinity-O display
Google Play Services will deprecate the aging OS in newer releases
Apple might be looking to trial the feature on the iPad before iPhone
Toshiba, which released the world’s first 14TB nearline 3.5-inch and 26.1mm-height HDDs with 9-disk
The Samsung Galaxy A5 (2017) Review
The evolution of the successful smartphone, now with a waterproof body and USB Type-C
February 7, 2017 /
Samsung Galaxy TabPro S - a tablet with the Windows-keyboard
The first Windows-tablet with the 12-inch display Super AMOLED
June 7, 2016 /
Keyboards for iOS
Ten iOS keyboards review
July 18, 2015 /
Samsung E1200 Mobile Phone Review
A cheap phone with a good screen
March 8, 2015 / 4
Creative Sound Blaster Z sound card review
Good sound for those who are not satisfied with the onboard solution
September 25, 2014 / 2
Samsung Galaxy Gear: Smartwatch at High Price
The first smartwatch from Samsung - almost a smartphone with a small body
December 19, 2013 /

News Archive



Do you use microSD card with your phone?
or leave your own version in comments (11)