A report by The Information, which was published hours before Intel confirmed the death of Vaunt, claimed the move will likely result in "some layoffs" from the team of approximately 200 people who worked on the glasses.
"Intel is continuously working on new technologies and experiences", an Intel spokesperson told CNBC in an email.
Intel showed off Vaunt/Superlight just a couple months ago, but now it's shutting down the entire division behind that and other wearable and augmented reality projects.
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. "Not all of these develop into a product we choose to take to market", Intel said in a statement. '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.
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Intel is planning to close its New Devices Group, it was revealed yesterday.
The company was already struggling to produce consumer products directly. "In fact, we have several products in the works that we are very excited about, as well as prior launches that highlight our wearable technology such as the TAG Heuer Connected watch and recent Oakley Radar Pace smart eyewear". This comes as no surprise that the company couldn't find a partner for its Vaunt, which is disappointing since the device looked promising. A low-power projector would beam a red, monochrome 400 x 150-pixel image into the lower right corner of one's visual field, thus eliminating the need for a protruding display medium.
More importantly, the glasses don't comprise of a camera module, eliminating the possibility of a spyware vulnerability from the glass. However, in an unbelievable turn around Intel has dropped the Vaunt smart glasses project like a hot potato.
Intel had hoped to pair the glasses with smartphones, allowing the wearer to read notifications and other information hands-free.
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