Analysis: Nike's Fuelband exit could be smart play

|About: Nike Inc. (NKE)|By:, SA News Editor

Nike's (NKE -1.7%) move to fire 70 people from the division responsible for the Fuelband fitness product was a strategic move that could pay off for the company, says retail analyst Kristen Bentz.

Bentz aka "The Talented Blonde" notes Apple has already hired the top Fuelband designer and looks set to make a strong statement in the wearable tech category.

A plan by Nike to be dominant on the software side - along with its cozy relationship with Apple (Tim Cook is on Nike's board) - could set it up to be one of the winners in the space.