Jawbone liquidates - but will return with clinical focus

Jawbone liquidates - but will return with clinical focus

Jawbone liquidates - but will return with clinical focus

Jawbone, makers of the Up fitness tracker, is going out of business, according to a new report in The Information.

Jawbone, the consumer electronics company that rivaled Fitbit in the wearables space for years, has reported shut down shop and is now liquidating its assets.

Problems at Jawbone first came to attention in May a year ago when it exited its core businesses in one final attempt to bring a "Hail Mary" medical device to market.

Wearable product manufacturer Jawbone may be no more. We're told CEO Hosain Rahman will move on to a new medical startup called Jawbone Health Hub that will produce health-related hardware and software services. This company will reportedly continue to service current Jawbone devices.

While its demise now may be at hand - the company declined to comment to several CNBC requests - Jawbone innovations live on and may extract future economic value.

The company chose to enter the health and fitness-tracking space in 2011 with the UP wearable device.

Jawbone hasn't sold its speakers or other audio products on its website in more than a year.

It is to be noted that the company had earlier gotten into a legal battle with the competitor Fitbit. The name of this company is Jawbone Health Hub.

The company hasn't responded to customers through its Twitter support account since December 2016.

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