Jawbone sells inventory of its fitness trackers

Jawbone logoReportedly, Jawbone has stopped production of its highly popular fitness trackers UP2, UP3, and UP4. It’s been over a year since the company launched a new fitness tracker, and it’s unclear if the company will start production of UP trackers ever again.

According to a report by Tech Insider, Jawbone has decided to sell its remaining inventory of fitness trackers to a third-party reseller. It seems that the company has been struggling to sell the fitness bands, and it's been forced to accept a discount price from the reseller, in order to keep the business going.

Apparently, Jawbone doesn’t intend to exit the wearables business, but there’s little information on the company’s future plans. Still, Jawbone fitness bands are available for sale, but only at a third-party reseller whose name hasn’t been disclosed yet.

A few months ago, Jawbone CEO Hosain Rahman stated that the company raised $165 million in funding, to be used for creating clinical grade fitness trackers. This might mean that the company is considering exiting the consumer tech market and tackling medial tech. Back in January, the company was valued at $1.5 billion, down 50% compared to April 2015.

Jawbone sells inventory of its fitness trackers

Jawbone launched its latest flagship fitness tracker, the UP4, in June last year, but hasn’t introduced anything new to the wearables market since then. The Jawbone UP2, UP3, and UP4 fitness trackers don’t come with a display but do a great job of syncing with a smartphone app. The app analyzes sleeping patterns, movements, the number of calories burned in a day, and it even comes with a virtual trainer.

Jawbone has been struggling on the market, facing fierce competitors, like Apple’s Watch, Fitbit, and even some Android devices.

The company also discontinued its Bluetooth speaker business and is trying to sell this inventory too. These are just rumors at this point, but more information on the matter should surface soon.

Source: Softpedia

Tags: technologies

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