After Apple Watch's $50 Price Drop, Pebble Lays Off 25% Of Staff

In an interview with Tech Insider Pebble CEO Eric Migicosky said that Pebble will reduce its staff by 40 employees, representing a 25 percent drop as the company is planning a “careful” approach to next year.

The announcement comes just a few days after Apple announced that the entry price of its Apple Watch Sport would start at $299, a $50 price drop from about a year ago.

The price drop puts the Apple Watch closer to some of Pebble’s offering as the company’s latest Pebble Time Steel starts at $249.

Last November, Migicovsky claimed that the Apple Watch didn’t hurt Pebble, but in fact helped them by creating more awareness for such devices. Now, it appears that Pebble is starting to feel the heat as Apple has sold an estimated 12 million Apple Watch, nearly double the estimated sales of Pebble in 2014.

Still, the company could figure a way to stick around by focusing on their more affordable $99 “Classic” smartwatch which is a full 66 percent cheaper than Apple’s entry Sport Watch. The only problem of course is what happens if Apple decides to diversify its Watch line and offer something for less? What happens then?

I have a feeling this won’t be the last we hear about Pebble’s troubles. It’s unfortunate. They were the ones that perhaps proved to the world that people were interested in wearing a smart watch.