In 2018, Meta (formerly Facebook) unveiled the Portal series of devices so that users can quickly access video calling service, Amazon Alexa voice assistant, smart camera and more.
The Portal series products never sold well, and a few months ago it was announced that Meta wanted to launch these products, which were introduced with a focus on regular customers, only for business customers. Five months later, the Portal brand appears to have reached the end of the road.
According to the news agency report NeowinMeta has decided to stop the sale of portal series smart displays and finish the smart watch project. The report comes as Meta made one of the tech industry’s biggest layoffs last week, laying off 11,000 employees, or 13 percent of its workforce.
Considering the extensive layoffs as well as the current economic woes, cutting costs is a logical move for Meta. This company is not having bright days and has faced a drop in revenue for two consecutive quarters. Mark ZuckerbergCEO, in the recent financial meeting, said Meta plans to focus on the goals that have the highest priority to return to the path of increasing revenue.
For months, there have been conflicting rumors centered around the Meta smartwatch. Wearable products are a very booming market and Meta’s entry into this field could be profitable for Mark Zuckerberg’s company. With all this, it has been said that Meta will gradually stop the project of producing a smart watch. This is not the first time that the production of this smart watch has been stopped.