CNET and Engadget are reporting that Nike has laid off a good chunk of its Fuelband hardware specific employees and is shelving plans for the follow-up device originally scheduled to release after the latest "SE" edition. The device was among the first to really start the wearable technology trend and while many other options have been released by competitors with more features and functionality, the Nike brand and style of the Fuelband continued to set it apart. Both Cnet and Engadget have received a comment from Nike that it will continue to focus on its popular exercise software.

I wore a Fuelband for the better part of six months but quickly realized how inaccurate its pedometer was and stopped. Now I mainly use it as a cool Back to the Future feeling watch. If only it could track my vital stats and sleeping patterns like other devices. Have you worn a Fuelband or similar device? Tell us in the comments!