Jawbone is looking to sell its speaker business, according to sources, as its shifts its focus solely to its wearable and health business. According to a report, Jawbone has been pitching its speaker business at possible buyers, which, if it’s successful, will see its Jambox wireless speakers changing hands. In addition, a source says Jawbone is liquidating its current speaker stocks.
The information comes from Fortune, which says it received word from “multiple sources.” One of those sources says Jawbone is working with distributors to get the remaining speakers liquidated. At the same time, the company is reportedly seeking out potential buyers to take the speaker business off its hands.
Once the company does offload the speaker business, according to Fortune’s sources, it will focus only on its various wearables, possibly becoming a bigger competitor to fierce rival Fitbit. The move may also be necessary to remain viable, as we’ve seen signs of trouble behind closed doors. It wasn’t too long ago that Jawbone laid off 60 or so employees.
Not helping Jawbone’s financial stability was a 2014 lawsuit from Flextronics (now Flex) over various alleged issues, something that has reversed with Jawbone’s own lawsuit against Fitbit. Unfortunately for the company, its legal pursuit hasn’t gone entirely in its favor, though, with the judge saying, among other things, that Jawbone was seeking “a monopoly on the abstract ideas of collecting and monitoring sleep and other heath-related data.”