(Update) Intel to lay off most of its wearables division, considers exiting the market
To try and make a dent into the nascent, at the time, wearables market, Intel purchased Basis (a fitness watch producer) and Recon (maker of sports heads-up displays) in 2014 and 2015, respectively. However, Intel stopped selling the Basis Peak devices altogether and shut down their software support. Since then, the Basis acquisition hasn't amounted to anything significant for Intel, and the company is yet to make headlines with digital eyewear.
Thus, it is said Intel is preparing to lay off the majority of its New Devices Group, which was established with wearables production in mind, and possibly shut it down completely. The company has already let employees know of the changes, and many expect to lose their jobs in the weeks ahead.
Apple Watch at the end of September, while Google postponed Android Wear 2.0's release for the beginning of 2017. Moreover, customers at large still don't understand the point of a smartwatch, unless it's a dedicated fitness tracker with a clearly established purpose.