Wearables Industry Ponders Next Step With Fitness In Wake Of Nike Shock
May 6, 2014
Nike's decision "to stop developing its FuelBand fitness-tracking bracelet last month sent shockwaves through the wearables industry," according to Bradshaw & Mishkin of the FINANCIAL TIMES. If one of the world's largest sportswear companies cannot make a success of a health-monitoring wristband, "what hope is there for the dozens of start-ups who have been developing similar devices?" But Nike "is not giving up on digital health altogether; it is redeploying its efforts away from hardware towards apps." Nike CEO Mark Parker said, "We are focusing more on the software side of the experience." Nike "does not want to compete in the hardware business against Apple," long rumored to be working on an "iWatch" with health-tracking features, and Samsung, whose Gear Fit wristband can track its wearer's steps and heart rate (FT, 5/5).