Nike reportedly made an abrupt exit from the crowded wearable technology market Friday. The sportswear giant fired much of the team responsible for the development of its FuelBand and shelved plans for a new version of the fitness tracker, CNET reports . Up to 55 people from Nike’s 70-member hardware team were let go from the company Thursday. In an email to CNET , a Nike spokesperson confirmed “a small number of layoffs.” See also: 7 Incognito Wearables You’d Never Guess Were Gadgets Despite the layoffs, Nike told Mashable “the Nike+ FuelBand SE remains an important part of our business.” “We will continue to improve the Nike+ FuelBand App, launch new METALUXE colors, and we will sell and support the Nike+ FuelBand SE for the foreseeable future,” said Nike spokesperson KeJuan Wilkins. It’s unclear if it will make new hardware for the category in the future. News of the impending firings appeared on the anonymous social app Secret last week. Nike debuted the fitness tracker in early 2012 to okay reviews, and has faced serious competition from wearable makers like Pebble, Samsung and LG. The release of the Gear Fit from Samsung last week and constant rumors about Apple’s possible… Read full this story
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