Intel reportedly cut a smartwatch and fitness-tracker group earlier this month, CNBC reports.
Here are four things to know.
1. Intel made a significant push into the wearables market in 2014, acquiring the Basis fitness watch for roughly $100 million and partnering with celebrities to promote its sensors. However, the company has not discussed the wearables division in its earnings calls in the past few years, CNBC reports.
2. Some speculated Intel was planning to move away from the wearables market in November after the company recalled its Basis Peak devices and halted the sale of the device altogether.
At the time, Intel told TechCrunch: "Intel is in no way stepping back from the wearables business. In fact, we have several products in the works that we are very excited about, as well as prior launches that highlight our wearable technology such as the TAG Heuer Connected watch and recent Oakley Radar Pace smart eyewear."
3. A person familiar with the matter told CNBC Intel laid off roughly 80 percent of the Basis group in November. The source also added Intel proceeded to cut the entire group about two weeks ago, although some employees were able to relocate to other company divisions.
4. Intel has shifted some of its focus to augmented reality, another person familiar with the company told CNBC.
Intel did not immediately respond to CNBC's request for comment.