Intel is laying off a major portion of its wearables group

According to sources close to the company, Intel is about to step back from wearables in a big way. In 2014, the company purchased Basis, a little-known producer of some truly excellent fitness watches. The acquisition was clearly a piece of a much larger puzzle for Intel, as it folded the brand into NDG — the New Devices Group — a new wing designed to make a big play for the booming wearables market, while hitting back against rival chipmaker, Qualcomm.
Read more: https://techcrunch.com/2016/11/18/intel-layoffs/?source=Snapzu