Pebble Layoffs

Steve Kovach, writing for Tech Insider:

Pebble, the buzzy startup credited for being one of the first companies to launch a modern smartwatch, is laying off 40 employees this week, CEO Eric Migicovsky told Tech Insider in an interview. That’s about 25% of its total staff.

I still hope they make it, but its hard for a scrappy small company to compete against Apple, Samsung, LG, et al.

Kovach:

The Pebble layoffs come at a shaky time for the wearable technology market. FitBit, the leader in the wearable category, has seen its stock fall dramatically in recent months. Apple dropped the price of the Apple Watch by $50 to $299 on Monday, a sign that it’s not selling as well as hoped.

I do not assume that the $50 price cut for the Sport models is a sign it’s not selling as well as hoped. My guess is that it’s a sign that, one year in, they’re significantly cheaper for Apple to produce.

★ Wednesday, 23 March 2016