It has been a busy start to spring. Facebook purchased Oculus, Google offers Glass to the public, and the big news Nike fired its Fuelband team. This is huge, because a company as impactful and trendsetting as Nike decided to hang it up in the wearables technology.
Will this lead other less funded wearable tech firms to reevaluate their strategy? Perhaps some of these firms will make larger fundraises or seek partnerships with various hardware firms.
I think Nike realized that they were entering a field that they could not win and instead of trying to be a tech company maybe they should partner with one. My vote is with Apple.
Apple and Nike have partnered in the past together with the Nike + iPod and now my prediction is a series of fitness apps with the forthcoming Apple iWatch. You heard it hear first.
RIP Nike Fuelband