Wearables Just Don't Do It for Nike

Nike appears to be retreating from its vanguard position in the computer wearables market. The company reportedly has begun slashing the engineering team working on its FuelBand product, a fitness computer that can be worn on a wrist, laying off as many as 55 of the 70-person team working on FuelBand. However, Nike subsequently insisted the FuelBand was still an important part of its business, saying it would continue to improve the product, offer it in new colors, and sell and support it for the foreseeable future.