Is This the End of the Nike FuelBand?

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Speculations are flying in the wearable tech space that Nike is quitting on the hardware side of its Digital Sport program. CNET reports that Nike is "realigning its focus exclusively on fitness and athletic software." The theory fits nicely with Nike's recent announcement of its SF-based Fuel Lab launch, where the software will continue to be developed for iOS and Android applications. It's sounding like the smartwatch race is boiling down to Apple and Google.
· Exclusive: Nike fires majority of FuelBand team, will stop making wearable hardware [CNET]
· Nike Denies FuelBand Shutdown, but Layoffs Could Reveal New Cracks in Wearables Market [Re/code]
· This Is How a Smartwatch Should Look According to Google [Racked SF]