Toshiba has canceled its smart glasses less than one week before the devices were to start shipping. In an announcement today, the Japanese electronics company said it made the decision to stop developing and selling Wearvue TG-1 as part of an effort to streamline its business portfolio and operations.
The firm is struggling to recover from a $1.9 billion accounting scandal and has been hit with a 7.3 billion yen (about $65.7 million) from Japan’s Financial Services Agency for falsifying its 2011 and 2012 financial statements.
As part of rehabilitation effort, Toshiba announced that it will restructure to reduce costs by cutting jobs and selling off some segments, including its medical equipment unit.
A company representative told the Wall Street Journal that the Wearvue, which…