Jawbone, one of the popular names in the fitness tracker market is finally calling it a day and shutting down after a lot of struggle. The company is liquidating its assets and it the latest one in the wearable market to shut down, all thanks to growing market share of Apple Watch. However, the end of Jawbone is not al that surprising since the company had stopped manufacturing the wearables a long time back.
Back in 2016, Jawbone had stopped producing these wearables and in fact, they also stopped selling the wearables since September 2016. However, at that time, the company had deemed all those news are just rumors. Now according to the new reports which we have, the company has sold the remaining inventory to a third-party reseller at a reduced price. This was obviously done in order to get the much-needed cash influx.
The CEO of the company, Hosain Rahman, however, has no plans to exit the market anytime soon. He is instead going to work on his new startup Jawbone Health Hub. Yes, he has announced that he will be working on this new startup which focuses on providing clinical software and hardware. Apparently, Rahman has already managed to raise funds for the same, however, details on that are still unknown. And as far as the existing Jawbone devices in the market are concerned, they are not obsolete yet.
Yes, Jawbone Health Hub will reportedly service current Jawbone fitness trackers. This means that if you have purchased a Jawbone fitness tracker, then you should not be worried about it. While it is not surprising to the company shutting, it is indeed very disappointing to this happen. Jawbone of one of the leading player in the market once. It has been reported that the company was once valued at $3 billion, raising somewhere around $1 billion over the years.
However, now it looks like Apple Watch has taken the market by the storm has a lot of wearable companies are shutting down. Apple has, in fact, managed to overtake even Fitbit as the worlds’ top wearable vendor. Having said that, we would like to know your thoughts on this. Do you think Apple slowly killing every other wearable company with its growing business? Be sure to let us know by dropping a comment down below and also stay tuned to PhoneRadar for more info like this.
Via – 9to5mac