Nike has not stopped its FuelBand production. However, it seems to be facing a downslide in the department of wearable devices.
Nike has hired and fired a little in matters having to do with its electronic sports section. But it has brushed off rumors having to do with it ending its FuelBand production.
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The churning out of FuelBand devices remains an integral part of what Nike is all about, said a spokesperson. It means that Nike denies the CNet report about exiting the wearable market.
“The Nike+ FuelBand SE remains an important part of our business,” the company said in a statement emailed to Re/code. “We will continue to improve the Nike+ FuelBand App, launch new METALUXE colors, and we will sell and support the Nike+ FuelBand SE for the foreseeable future.”
However, where there is smoke, there is fire. The future of wearable devices is in jeopardy. “They are getting a lot of data and just do not know what to do with it,” said one source. “They could not exploit the market.”
Nevertheless, there is still some energy left in Nike to continue to create performance devices for the sake of its consumer market. It’s not about to give up so soon. The loss in profit-making, astronomical rates involved in production and design plan difficulties have all cropped up to create hurdles in the way of corporate growth.
Meanwhile, the brain drain that has been occurring on a regular basis at Nike in regard to its wearable devices is another issue that needs resolution. The upsetting of the goals has been somewhat of a setback for Nike.
Nike's production team has not met the high expectations that were kept by the administration. And the result is that the whole process has been derailed. The failure and impotence in utilizing the mechanisms of the market has led to this impasse.
Furthermore, the appearance of Apple Incorporated in this dirty game of competition and intense rivalry has only made matters worse. The signs are all over the place.
This is a genre that Nike may have to let go off for its own good. It just won’t flourish in today’s cutthroat atmosphere. But Nike is a tenacious company. It refuses to take “No” for an answer.
“We will continue to leverage partnerships to expand our ecosystem of digital products and services, using NikeFuel as the universal currency for measuring, motivating and improving,” the company said on Friday.
However, with the dismissal of more than 55 people from the core team, things are looking down for the wearable market’s future for the “Just Do It” conglomerate.