Jawbone confirms it's not leaving the fitness wearables business

Jawbone confirmed in a statement on Tuesday it will not be exiting the fitness wearable business, contrary to earlier reports that said it had ended production of its Up line.

"Speculation that Jawbone is exiting the wearables business or going out of business altogether is false," Jawbone told Engadget. "This speculation appears to emanate from wrongful insinuations made in a blog post in which the reporter has since posted a 'Correction.' Unfortunately, other media picked it up before the reporter posted a correction and spread this false information."

The report said Jawbone had sold its remaining inventory of the UP2, UP3 and UP4 to a third-party reseller to raise cash.

"Jawbone remains wholly committed to innovating in and building great wearables products. The company has never been more excited about its pipeline of technology and products and looks forward to sharing them when ready," the company continued. "We manage our inventory positions according to internal business processes, and strategic product lifecycle objectives. This situation is no different and we will continue to support all of our products in the marketplace."

Fortune earlier reported Jawbone is narrowing its focus to health and wearables while trying to sell off its speaker business.