The fitness tracker market isn't the same as it was a year ago. Jawbone, once one of the most popular companies in the industry, has since left the consumer space, and now Under Armour has decided to stop production of new consumer wearables as well.
The news comes as Under Armour has posted its first quarterly loss in over a decade. CEO Kevin Plank admitted that "operational challenges and lower demand in North America resulted in third quarter revenue that was below our expectations."
As a result, Under Armour will no longer produce new fitness bands such as its Under Armour UA Band, instead focusing on software such as apps and partnerships similar to Nike's deal with Apple.
However, if you're interested in a new fitness tracker, you still have plenty of options, including new releases from Samsung, Apple, and Fitbit. Despite claims to the contrary, the wearables space doesn't seem to be dying anytime soon.