During the recent's Q2 earnings, TomTom revealed that the wearables market has fallen short of expectations. The report also showed a 20% year-on-year decline in consumer revenue with poor performance in its Sports segment. Latest
information suggests that key members of the TomTom wearables team have left the company, suggesting that TomTom may be ending production of its line of fitness trackers and sports watches.
The source also claims the company's CEO talked with investors where he said that they "want to focus on Automotive, Licensing and Telematics businesses" and "are reviewing strategic options for Sports business."
We'll keep you posted as new information comes out.
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