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Jawbone, the producer of consumer wearables, is not quite the leader of the market of fitness trackers and several reports confirm it. Thus, rumors claim that they would stop the production of consumer wearables altogether and would switch to a whole different field.
TechCrunch found out that Jawbone would stop producing wearable devices for fitness tracking. Instead, they would only focus on making devices that are meant for medical use in clinics and health care units.
To execute the transition, Jawbone need funds that they have already started raising. They appear to be receiving donations from popular investors, such as JP Morgan, who have already provided the company with $951 million. Unfortunately, they appear to have spent most of the money without having consistent results to show.
They have admitted that mixing consumer electronics with wellness and health might be a little challenging and they still had a lot to learn about how these two fields interact. Also, the market for consumer devices is a vast one and only the big companies know how to tackle it so as to obtain the best of results.
Jawbone did not only deal with the wearable devices. They used to be involved in a speaker business with Jambox, but they did not have so much success. This business slowly disappeared from the markets until they stealthily sold it last year.
Also, the fitness trackers were not so innovative. For example, the last time when they brought something new was in 2015, when they released the UP4. Since then, nothing new has appeared and it has understandably affected their sales, since they could not keep up with the market.
Some time ago, Fitbit offered to buy Jawbone, but they failed to see what an opportunity this could have been and they refused the offer. This might prove a fatal mistake.
Jawbone may say that, once they decided to switch markets, they might be on their way to recovery. Indeed, the American customers are health conscious and are interested in devices that help them keep track of their health, but several companies that produce wearables have already fashioned their devices with tools that keep track of their health.
Jawbone may be facing a new challenge, but we wish them the best of luck in their new endeavor.
Image Source: Wikimedia Commons