By Mikey Campbell Wednesday, April 18, 2018, 09:02 pm PT (12:02 am ET) After numerous failed attempts to break into the wearables market, Intel plans to pull the plug on its New Devices Group, a project in which the company invested hundreds of millions of dollars. As reported by The Information on Wednesday, the New Devices Group, or NDG, will be shut down in the near future, with current employees to be relocated to other Intel divisions or laid off. The group was thought to include some 200 workers earlier this year, the report said. Intel confirmed the closure to The Verge, saying in a statement that it plans to shelve NDG’s last major project, a pair of smart glasses dubbed Vaunt. An AR-infused headset masquerading as a pair of prescription eyeglasses, Vaunt used advanced optical technology to beam digital information directly onto a user’s retina. Intel was reportedly working with hardware providers to secure a path to retail this year, but apparently failed to strike the deals necessary to bring the fledgling idea to market. NDG started life in 2013 under the guidance of former Apple and Palm executive Mike Bell. At the time, Intel was looking for new growth markets to complement a commanding lead in the semiconductor business. The wearables sector, namely smartwatches, was one of the first areas of interest for NDG. In 2014, Intel snapped up smartwatch maker Basis for a reported $100 million to $150 million in an effort to build out its health-related… [Read full story]
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