Intel is laying off a major portion of its wearables group

HANOVER, GERMANY - MARCH 14:  The Intel logo hangs over the company's stand at the 2016 CeBIT digital technology trade fair on the fair's opening day on March 14, 2016 in Hanover, Germany. The 2016 CeBIT will run from March 14-18.  (Photo by Sean Gallup/Getty Images) 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… Read More

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