Intel has confirmed plans to shutter its wearables business after an unsuccessful few years trying to get it off the ground, but it remains heavily invested in the sports industry generally.
After spending hundreds of millions of dollars over the past five years attempting to build a wearables business that saw it dabbling in fitness trackers and smart glasses, the chipmaker confirmed to The Information this week that it plans to shut down the division.
Intel has been distancing itself from health trackers over the past three years, according to CNBC, which reported last summer that Intel laid off roughly 80% of the Basis smartwatch team at the end of 2016 and shifted its focus to augmented reality.