Jawbone, a company that provided products form Bluetooth audio systems to fitness trackers, is going out of business. A report tells that the company is being liquidated as its CEO, Hosain Rahman, is moving to Jawbone Health Club, which will focus on health-related products and services.
It’s been observed that the company has been in financial turmoil with their degrading customer service, low product stocks, and executives leaving the company ever since Jawbone got into a legal dispute with fellow fitness tracker company Fitbit.
First formed as an audio technology company under the name AliphCom, Jawbone moved to health and fitness-tracking devices back in 2011. Even with their Bluetooth headsets and Jambox Bluetooth speakers, they were not enough to save the company from their unfortunate move.