Intel killing off their wearable division?

For the past couple years we've seen a ton of wearables entering the market, most being rather quite unremarkable. With all the increased competition and what seems to be a very saturated market, it's not surprising that we'll start seeing some players exiting. Intel is reportedly the latest to pull the plug on wearables by shutting down their wearables division. The fact that Intel is exiting isn't new news, however, thanks to a round of layoffs it looks like although they'd been denying it for a while, Intel looks like to have pulled the plug on wearables for the time being. Engadget has more details.

When TechCrunch reported last year that Intel is getting out of wearables, the tech titan vehemently denied it. Now a new report by CNBC indicates that the company is indeed leaving the business behind: the publication says Intel has axed the whole division working on smartwatches and fitness trackers two weeks ago. The New Technologies Group, which is in charge of the chipmaker's cutting-edge businesses, has now reportedly shifted its focus to augmented reality. If true, this is the second project the company has scrapped in recent months: it also canceled the development its Raspberry Pi competitors in June.