“Smartwatch maker Pebble will lay off 40 employees this week, the company confirmed Tuesday,” Brett Molina reports for USA Today.
“During an interview with Tech Insider, Pebble CEO Eric Migicovsky cited a conservative fundraising environment in Silicon Valley for the cuts, which amount to about 25% of Pebble’s workforce,” Molina reports. “”
“Although Pebble was among the first to hit the smartwatch market with its line of Pebble devices, the company has faced serious competition from companies including Fitbit and Apple with its Apple Watch,” Molina reports. “Earlier this week, Apple dropped the price of Apple Watch to $299.”
Read more in the full article here.
MacDailyNews Take: Condolences to the affected employees, but this is the sort of thing that happens to companies peddling dead-end, futureless platforms.
There’s only one company making real smartwatches and it isn’t Pebble.
MacDailyNews Note: Today is Good Friday. As such, the U.S. financial markets are closed for the day and posting will be less frequent today.
[Thanks to MacDailyNews Reader “Edward W.” for the heads up.]