Intel Kills Its Wearables Division

Intel Basis 072117

Intel Corp. (INTC) has completely shut down its wearables division about two weeks ago, CNBC reported, citing a person familiar with the matter. The company reportedly intends to focus on augmented reality.

According to the CNBC report, Intel laid off about 80 percent of the team that made the Basis fitness watch in November 2016 and has now eliminated the division entirely. The Basis group was made up of employees from the wearables company Intel acquired for about $100 million in 2014.

However, Intel's acquisition of the Basis fitness watch reportedly did not pan out as expected.

Intel's New Technologies Group, which looks at cutting-edge business areas, is now focusing on augmented reality, according to the CNBC report.

Intel had once hoped to go full-steam ahead into wearables and dominate the segment alongside Apple and Fitbit.

In January 2014, the company unveiled its heart-rate sensing earbuds. The pair of smart earbuds with biometric capabilities was designed to track the user's run, record burned calories, and read their heart rate.

However, Intel continues to promote the Curie Chipset for connected Internet of Things devices on its website and lists companies like New Balance, Oakley and Tag Heuer as its partners.

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