Jawbone Ceases Production of Fitness Trackers, Seeks Buyer for Speaker Business

It appears speaker and fitness tracker company Jawbone is struggling and could be on the verge of going out of business, with news today suggesting production has ceased on all of its current products.

According to a report from Tech Insider, Jawbone has fully ended production on its line of fitness trackers and has sold the remaining inventory to a third-party reseller, and a report from Fortune says the company is also seeking a buyer for its speaker business.

Jawbone has reportedly struggled to sell its fitness trackers in an increasingly competitive market, forcing it to offer all remaining UP2, UP3, and UP4 tracking accessories to a third-party reseller at a discounted price in order to keep the business afloat.

As for its speaker line, Jawbone is said to be courting potential buyers and liquidating its remaining speaker inventory. Jawbone has not commented on either decision, leaving it unclear whether the company will aim to produce additional fitness trackers in the future, but Fortune says Jawbone is selling its speaker business so it can focus on health and wearables.

Jawbone has been floundering for several months as interest in its fitness trackers and speakers has dwindled. No new products have been released since the early months of 2015, and in November, Jawbone laid off 15 percent of its global workforce, closed offices in New York, and downscaled its operations in Sunnyvale and Pittsburgh.

The company did raise $165 million in funding in January, but its valuation dropped from $3 billion to $1.5 billion.

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