Global chip-maker Intel has shut down its "New Devices Group" (NDG) and ceased the development of "Vaunt" smart glasses who were like the eye-mounted wearables like Google Glass, the media reported.

"Despite an investment of several hundred million dollars by Intel, including through acquisitions of other companies, the group never made much of an impact in the wearables market," a report in The Information said on Thursday.

The closure is probably to result in "some layoffs from the team, around 200 people", the report noted.

"Intel is continuously working on new technologies and experiences. Not all of these develop into a product we choose to take to market. The Superlight [the codename for Vaunt] project is a great example where Intel developed truly differentiated, consumer augmented reality glasses," The Verge quoted an Intel statement as saying.

"We are going to take a disciplined approach as we keep inventing and exploring new technologies, which will sometimes require tough choices when market dynamics don't support further investment," the statement added.

Jerry Bautista, the lead for "Vaunt," had mentioned earlier that Intel was working with key ecosystem hardware providers like frames and lenses.

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Google Glass was introduced with much fanfare in 2014. At $1,500, it promised a new, bold era for information.

People, however, realised the device was not yet ready to be part of their lives. There were safety and health concerns.

Google later withdrew the device from the market in 2015. IANS