Steve Kovach May 27, 2016 at 01:13PM
Jawbone has stopped making its UP fitness trackers and sold its remaining inventory to a third-party reseller, sources familiar with the matter told Tech Insider.
Jawbone has three major fitness trackers: The UP2, UP3, and UP4. The company has struggled to sell the devices and was forced to offload them at a discount to a reseller in order to get the revenue it needed to keep the business going, according to the source.
It's unclear if Jawbone will start making the UP trackers again. Representatives for Jawbone did not return a request for comment.
It's been over a year since Jawbone has released a new flagship fitness tracker. Despite entering the wearables market almost five years ago, Jawbone has failed to gain any significant market share in the space. FitBit and Apple currently dominate.
Jawbone raised a new $165 million round of funding in January. The company's CEO Hosain Rahman told Tech Insider a few months ago that the company plans to use that money to develop clinical-grade fitness trackers.
Sources also said Jawbone has discontinued its Bluetooth speaker business and is trying to sell its remaining inventory. On Friday, Fortune's Leena Rao reported that Jawbone wants to sell off its speaker business. Rahman declined to comment on the speaker business when Tech Insider asked about it a few weeks ago while reporting on another story.
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Jawbone has stopped producing its fitness trackers and sold the remaining inventory to a third party from Business Insider: Steve Kovach
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