Jawbone announced that it is ending with consumer electronics. The company has announced that it will only deal with medical products from now on.
An example of Fitbit, which due to weak financial results has to slow down some staff shows that the market of fitness straps is in worse condition. For this reason, Jawbone, a company well known for producing such devices, announced that it is ending with consumer electronics.
The company has issued a statement in which it confirms the departure from the design of the wearable devices and intends to focus on products and services for the medical market, ie equipment for clinics and clinics for treating patients.
The decision was dictated by the small profitability of the current business. Jawbone has received $ 951 million from investors for the development of wearable equipment and although it has spent nearly half of that amount, it has only paid a small share of the invested funds.