In a statement to a technology news website TechCrunch, Intel denied the news. They said, “There is no way stepping back from the wearable business.”
In 2014, Intel purchased Basis and folded the brand into New Device Group (NDG). Intel designed the NDG wing specifically to focus on wearable market.
Those closer to the company said Intel is planning to take a major step back from its investment in the space, possibly they will exit from wearables altogether. The move will cause a large number of layoffs in NDG, reported TechCrunch.
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