Intel Corporation (INTC) Exits Fitness Trackers, Health Wearables

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Intel Corporation (NASDAQ:INTC) has reportedly left behind its fitness trackers and smartwatches.

Intel Corporation (INTC) Exits Fitness Trackers, Health Wearables

According to an unnamed source close to the matter, Intel completely shutdown its division that was working on fitness trackers and other health wearables roughly two weeks ago. The source claims that this comes after it laid off 80% of employees in that group back in November.

Intel’s decision to stop focusing on fitness trackers and other health wearables is a major shift from its stance just a few years prior. The company announced its plans to make a major push into the market in 2014. However, it hasn’t mentioned the category in its earnings reports since that year.

Intel was hoping that it could become a major player in the fitness tracker and wearables category. It even teamed up with celebrities to promote many of its devices. Despite these efforts, it couldn’t compete with rivals such as Apple Inc. (NASDAQ:AAPL) and Fitbit Inc (NYSE:FIT), reports CNBC.

Now it appears that Intel has a new focus in mind. A second unnamed source claims that the company has its New Technologies Group working on the augmented reality front. This is part of INTC CEO Brian Krzanich’s decision to try and push the company beyond just develop processors for computers.

If Intel does continue to look into AR, it will likely find Apple as a rival again. The tech company has already announced its ARKit that will come out with iOS 11 later this year. There has also been talk that AAPL is working on a pair of AR glasses.


Article printed from InvestorPlace Media, https://investorplace.com/2017/07/intel-fitness-trackers-intc/.

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