 It looks like Nike is throwing in the wearable towel. Hit the showers, FuelBand. I'm Dan Seifert and this is 90 seconds on the verge. On Friday, Nike confirmed reports that it is laying off a majority of the employees in its hardware division, which makes the FuelBand line of fitness trackers as well as the Nike Plus sport watch and other peripheral devices. CNET reports that as many as 55 people on Nike's 70-person hardware team were laid off last Thursday. The original FuelBand launched in 2012 to ecstatic consumer demand, but Nike was slow to capitalize on that with few updates to the wearable. With the release of products like the Fitbit Flex, the FuelBand is no longer the only player on the court. While Nike's announcement is surprising, as the FuelBand is considered one of the better fitness trackers out there, it shows that maybe Nike sees a bigger storm coming. With last month's announcement of Android Wear, Google's smart watch operating system, and the long rumored Apple smart watch possibly coming soon, fitness companies are no longer the only ones interested in wearable devices. Nike is not a technology company, and it knows that, but it seems perfectly fine playing assistant coach to the bigger players. While Nike has stated that it will continue to improve the FuelBand app, as well as continue selling and supporting the device for the foreseeable future, the possibility of the company releasing new hardware is slim. Moving forward, Nike will reportedly shift its focus to fitness software, which other hardware makers can then integrate into their own wearables. The first wave of fitness wearables failed to gain mainstream adoption. However, with Apple and Google expected to step up to the plate, the next round in wearables is about to begin. For more on the Nike FuelBand, check out The Verge. Coming up, McDonald's also announces it's getting out of the wearable game after declining sales of its McNugget pedometer. People kept eating it.