TomTom has released a press statement to say it will focus on its leading position in the "navigation technologies" sector, and will "provide location content, software and services to business customers."
With the good news out the way, the company also said that following its Q2 earnings report, which revealed "disappointing" sales, it would have to reorganise parts of its consumer sports business, which unfortunately has resulted in 136 redundancies.
TomTom's Q2 earnings report was revealed in July and the disappointing sales, coupled with several executives leaving the company, showed signs that the end was near for TomTom's wearables business. While the company hasn't explicitly confirmed it won't make anymore wearables, we won't hold our breath for anything new.
The press statement does say "we will continue to sell consumer sports products", but this likely refers to current stock the company holds rather than anything new. If you own a TomTom wearable, then you can be safe in the knowledge that it will continue to be supported, although TomTom hasn't said if support and software updates will eventually stop.
TomTom only recently announced Fitness Points as a new workout feature, designed to help you increase your fitness level. It was made available for the Runner, Spark and Adventurer devices, so for now it's not clear how much longer they will be supported.
We'll keep an eye out for any updates and clarification on TomTom's statement.