Jawbone reportedly slows production of UP fitness trackers
Wearables maker Jawbone is slowing production of its UP fitness trackers, Tech Insider reports, and has sold its remaining inventory of the UP2, UP3 and UP4 to a third-party reseller.
Tech Insider originally reported the company was halting production of the UP, but Jawbone on June 1 released a statement denying this:
"Jawbone has not ceased working on the production of UP products nor do we intend to. Each and every employee at Jawbone is currently focused on the design, development, marketing and production of either our current, or our next generation, UP wearables product line."
The company declined to comment on whether it is slowing down the production of the UP tracker, or whether it is selling off its remaining inventory.
Jawbone CEO Hosain Rahman said in a blog post, "We have always managed 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."
Meanwhile, Fortune reported that Jawbone is, in fact, narrowing its focus to health and wearables while trying to sell off its speaker business. Jawbone declined to comment on this.
The wearables market overall continues to grow, but it has been in flux in recent months, with some smaller companies falling by the wayside. Two months ago, Pebble announced it was laying off close to 25 percent of its workforce. Back in November, Jawbone laid off 15 percent of its employees. Fitbit continues to dominate the market, followed by Xiaomi, Apple, Garmin and Samsung.