“The wearables market has fallen short of expectations,” TomTom CEO Harold Goddijn admitted in an investors call this week. “Because of this and because we want to focus on Automotive, Licensing and Telematics businesses, we are reviewing strategic options for our Sports business.”
“We need to look at it,” Goddijn said, when quizzed on the sports division. “We can’t carry on as we are going at the moment.” More at Forbes.
I have used 3 TomTom wearable products and they were all awful. Stick to navigation I guess.
Following several extra months of confusion regarding the semiconductor giant’s wearable plans and the occasional mechanical rejection of otherwise credible speculation, it seems the inevitable has happened. According to a “person familiar with the matter” talking to CNBC on condition of anonymity, the rumors were all true, and Intel laid off roughly 80 percent of the “Basis group” workforce way back in November 2016.
For what it’s worth, “many” of the employees in question were offered the chance to stay with the world’s largest chipmaker (still) in other departments, while the rest of the group was reportedly “eliminated” earlier this month… More at PocketNow.
This is a very tough business with lots of big name players all dealing with the same technology.
The latest market tremors show that even these specialized gadgets aren’t selling as well as companies hoped, and again, it’s because they don’t solve a clear problem. How many steps you took in a given day never translated well into how fit you were, nor did any company provide easy-to-understand ways to use that data. Add in the proprietary nature of most hardware maker’s websites and data portals, and it’s easier to see how a wrist band isn’t a solution for someone looking to lose a little weight – it’s a handcuff… More at DT.
Excellent article that sums up a lot of what is happening in the industry at this time.