Jawbone sells fitness tracker inventory to avoid losses

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Producer of fitness tracker, Jawbone, may soon be no more. According to sources who spoke with Tech Insider, the company sold the last of its inventory to a retailer and has shut down production.

Jawbone’s existing fitness trackers, UP2, UP3, and UP4, have been slow to sell according to sources. This was probably due to the tough competition from rivals like Fitbit, Samsung and others. To keep business alive, Jawbone was reportedly forced to sell its remaining inventory at a discounted price in order to avoid losses in revenue. As of now, Jawbone is yet to comment on if it will continue making fitness trackers in the future.

If you’re still interested in Jawbone’s UP series of fitness trackers, act fast before the remainder sells. It doesn’t appear we’ll be getting a refresh anytime soon. The company has lost just about all its marketshare in the wearable space to rivals. Sources say the company’s speaker business has also been underperforming, which may soon have to be foreclosed.

The future doesn’t appear too bright for Jawbone. We’ll let you know if any moves or shifts are made to counter the losses.

Source: Tech Insider