Jawbone, maker of the groundbreaking UP fitness tracker and a market leader in consumer wearable devices is in the news for exiting the market it once thrived on. Fitbit rival Jawbone is making strategic shifts post a slowdown in wearable adoption and the reported exit of its CTO. Consumer complaints and mounting financial issues has led Jawbone to exit market.
The San Francisco-based wearable company once known for its revolutionary UP fitness tracker has set its gaze on the up and coming wearable market in the healthcare sector and has plans to provide healthcare product services to clinicians and healthcare practitioners.
The shift to health will require fund infusions. Talks are on for strategic investors in the medical arena. Famed for its revolutionary headphones and speakers, the wearable company once rivalled Fitbit with its UP fitness tracker that took the market by storm when it was launched.
However, its bleak times for Jawbone with the company fighting off lawsuit from Flextronics and selling off a part of its core Bluetooth business it had built its reputation on. According to news reports, Jawbone is elbow deep in trouble with the company unable to meet contractor bills and severing off ties with key vendors.
According to news reports, Jawbone has changed tracks and is working on a medical-grade sensors which can be used by enterprises.