Intel, the popular hardware manufacturer, has recently announced that it is abandoning Vault. The Vault is actually the company’s smart glasses project. Intel did not give more detailed information as to why it is abandoning the project.


Intel to shut down Vault project?


However, in a statement, Intel cited that “market dynamics” as the major factor why project Vault would be cancelled. One reason also is the project Vault’s lack of investment. In addition, Intel might as well disband the department who are working for the company’s wearable devices.

If this information is true, this would mean the laying off employees working in 200 New Devices Group. The number of employees working under the Vault project will be seriously fired, according to The Information.

It was Intel CEO Brian Krzanich has formed The New Devices Group back in 2013. After a corporate reorganization two years later, the New Devices Group joined the New Technology Group. Since that time, Intel acquired several wearable startups, including two wearable companies that specialize in technology for athletes.

It can be recalled that Intel has debuted Vault as well as its plan back in February. The glasses actually received a good and positive reviews despite Googgle’s Glass rival. Intels’ glass has been described as sleek and lightweight. The glass offers a traditional frame. The device’s projectors are actually beaming with a red 400 x 15 pixel image.

Meanwhile, an Intel spokesman said that its company is doubling is time to develop more technologies and experiences.


“Intel is continuously working on new technologies and experiences,” an Intel spokesperson told CNBC in an email.


“Not all of these develop into a product we choose to take to market. The Superlight project is a great example where Intel developed truly differentiated, consumer augmented reality glasses. 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,” she said.