Intel is shutting down its division of new devices that used to make fitness trackers and smart glasses. It was formed by the company in 2013 and they had been working on Vaunt smart glasses recently.

Intel is continuously working on new technologies and experiences. Not all of these develop into a product we choose to take to market. The Superlight project [aka Vaunt] is a great example where Intel developed truly differentiated, consumer augmented reality glasses. We are going to take a disciplined approach as we keep inventing and exploring new technologies, which will sometimes require tough choices when market dynamics don’t support further investment. – Intel

According to market research firm IDC, they can spend billions of dollars per year for AR and VR technologies, but envisioning smart glasses in the market has appeared tricky. This has been proved true as the Google Glass and Snapchat Spectacles have faced a steady decrease in demand after the hyped initial releases.

Given the poor market demands, in the long run, Intel halted its wearable division by last July. It had been hovering over smart eyewear market for years, and even acquired the smart eyewear maker Recon in 2015.

Intel is working on something new that’ll bring convenience to consumers, although there’s no more info on this yet. You have to stay tuned to get the next update of what Intel is working on next. We are keeping a tab.