Intel had entered the wearables market with a lot of expectations after the $100m acquisition of Basis Science back in 2014. Three years later, the chipmaker has made a decision to call it quits, a person familiar with the matter told CNBC.
"Intel is in no way stepping back from the wearables business". TechCrunch reported that the company was stepping away from fitness trackers and smartwatches back in November, but Chipzilla strongly denied it. According to a new report, the US semiconductor manufacturing firm has completely shut down the unit in early July after supposedly laying off approximately 80 percent of its employees from the Basis group last November.
CNBC, citing sources, said that the New Technologies Group is now focusing on augmented reality. Numerous employees were apparently given the opportunity to be reassigned to other parts of the company.
Levée de l'interdiction des soins funéraires aux séropositifs
Cela faisait des années que les associations de lutte contre le Sida réclamait cette mesure. Elles se félicitent de cette décision d'Agnès Buzyn, la nouvelle ministre de la santé.
The Basis Peak smartwatch, which was in development at the time of Intel's acquisition suffered some major setbacks in its lifespan, eventually being recalled thanks to overheating issues past year.
"I want to be able to leave my phone at home", Intel CEO Brian Krzanich told reporters in January 2014 during a keynote the Consumer Electronics Show.
Intel is set to report its second-quarter earnings on July 27.
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