Nike Will Stop Making Wearable Hardware

Huge scoop from Nick Statt, CNet:

Nike is gearing up to shutter its wearable-hardware efforts, and the sportswear company this week fired the majority of the team responsible for the development of its FuelBand fitness tracker, a person familiar with the matter told CNET.

“As a fast-paced, global business we continually align resources with business priorities,” Nike spokesman Brian Strong said in an email. “As our Digital Sport priorities evolve, we expect to make changes within the team, and there will be a small number of layoffs. We do not comment on individual employment matters.”

It’s worth remembering that Tim Cook is on Nike’s board, and that Nike and Apple have long collaborated on fitness. Nike+ has been preloaded on iPhones and iPods Touch since the 2008 models, for example, and has functioned with the iPod Nano for even longer. Cook has also noted publicly how much he likes his FuelBand. I’m not saying this means that anything specific is going to happen, I’m just saying that it’s interesting.