Successful CMOs achieve growth by leveraging technology. Join us for GrowthBeat Summit on June 1-2 in Boston
, where we'll discuss how to merge creativity with technology to drive growth. Space is limited. Request your personal invitation here
Updated April 19 8:40 PM PT with a statement from Nike.
If reports are true, it looks like Nike just laid off 70 to 80 percent of its FuelBand team.
The reason for such a move, CNET reports, is huge: Nike reportedly believes its future lies in software — not hardware, like the FuelBand fitness tracking device.
Nike has not yet officially announced that it will cease FuelBand production. CNET’s report claims that Nike’s software team will continue to work on products such as the NikeFuel workout metric. Nike’s Web products will apparently not be affected.
At this point, it’s important to take the report with a grain of salt. Nike did not immediately respond to VentureBeat’s request for confirmation.
Update: Nike has released a statement in response to CNET’s report. According to The Next Web, Nike will continue to “sell and support the Nike+ FuelBand SE for the foreseeable future.” It’s noteworthy, however, that Nike did not completely refute CNET’s claims. Nike’s wearables initiatives appear neither doomed nor promising.
Read more: Nike’s new Fuelband: Just as stylish, but with more sports-specific smarts
Individually design your shoes, clothing, and equipment to match your style or improve your performance. Select the materials, choose the colors, customize the fit and express your look. Start customizing now at www.nikeid.com.... read more »
Powered by VBProfiles
VentureBeat’s VB Insight team is studying marketing analytics...
Chime in here, and we’ll share the results