Nike is gearing up to shutter its wearable-hardware efforts, and
the sportswear company this week fired the majority of the team
responsible for the development of its FuelBand fitness tracker, a
person familiar with the matter told CNET. […]
There’s increasing competition in the market for wrist-worn
fitness trackers, and Nike’s digital app ecosystem, Nike+, has
grown less reliant on wearables as smartphone sensors have
improved. In other words, it makes less and less sense for Nike to
stay in the hardware race when its physical wearables are not
bottom-line needle movers, especially as companies like Apple and
Google prepare to join the fray.
Interesting, particularly when you consider that Tim Cook sits on the Nike board — and that he wears a FuelBand.