Fitness tracker and speaker company Jawbone is allegedly facing some major business problems that it has ceased the production of all of its current products. There are even speculations that the company is looking to sell its speaker division.

According to Tech Insider, Jawbone has ceased all the production of its current line of fitness trackers. The company has reportedly also sold the remaining stocks on its inventory to a third-party reseller.

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Among the confirmed devices that were discontinued are the following: the UP2, UP3, and UP4. Some market analysts have noted that due to the overwhelming amount of smart wearable and fitness trackers in the market, Jawbone's products failed to make a mark.

Jawbone is said to be planning to offload its current inventory of devices and sell it at a discount to interested third-party resellers. The revenue will be used by the company to keep its business going, although it is still unclear whether Jawbone will continue making its UP trackers again.

There are talks that Jawbone is finally exiting the wearable devices business. On the other hand, some analysts believe that Jawbone is just realigning its focus and will remain in the business despite the hurdles it is currently facing.

As part of its effort to get back on track, Jawbone was able to raise around $165 million in a round of funding in January. Despite the funding run, Jawbone's valuation dropped from $3 billion to $1.5 billion.

At that time, Jawbone chief executive officer Hosain Rahman said that the company plans to use the raised money to develop clinical-grade fitness trackers that focuses on heart monitoring. Jawbone has labeled the new device as its "last chance" product. The company said that it plans to unveil this new device this summer.

Regarding its speaker business, there are reports that Jawbone is discontinuing it and right now the company is trying to sell its remaining inventory. According to MacRumors, Jawbone is currently looking for interested companies to buy its speaker division. The decision to sell the speaker division, aside from it being unprofitable, is said to be the company's plan to shift its focus from the wearable market.

TagsJawbone, Jawbone Fitness Tracker, smart wearable, fitness tracker, Jawbone news