Struggling Toshiba cancels Wearvue Smart Glasses ahead of sales start.
Toshiba Corporation today announced to kill the development and sales of its new smart glasses Wearvue TG-1. The company has announced the glasses-type wearable device on January 13, 2016 and it was scheduled to start shipping on February 29. Scrapping a product just about to launch is a desperate move.
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Toshiba has big financial problems and is making cuts to streamline the business. The decision was made under the corporate-wide policy “Review the Business Portfolio and Operational Structure,” part of the “Toshiba Rebuilding Initiative.” Toshiba is turmoil since an accounting scandal surfaced. The Japanese company forecasted a loss of $6 billion for the fiscal year earlier this month.
Toshiba said in a statement: "The company sincerely regrets any inconvenience that this decision may cause customers who had made on-line reservations and those who had taken interest in Wearvue TG-1."
The Toshiba Wearvue TG-1 was already listed on Amazon in Japan ready to sell. The Google Glass like device used a module on one temple.
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