HP acquires Humane assets for $116 million: AI Pin devices to be discontinued in February

Recently, hardware startup Humane announced that it has sold most of its assets to HP for $116 million. The deal means Humane is about to stop selling its $499 AI Pin devices and will completely stop working after 12 noon on February 28, 2025. Humane reminds users who have purchased AI Pin in their blog that they must transfer important photos and data to external devices by this date, because by then these devices will no longer be connected to Humane's servers, and will not be able to make calls or send messages. Conduct AI query or cloud access.

In order to adapt to the new business direction, Humane plans to disband AI Pin’s customer support team the same day. In addition, according to FAQ, users who have purchased AI Pin within the last 90 days can apply for a refund, but users who have purchased it before cannot enjoy the refund policy.

Humane launched the AI ​​Pin in April 2024 and hopes it can replace traditional smartphones. However, the device did not receive positive feedback from consumers, with many early reviews showing its performance disappointing, resulting in an imbalance in the company's sales to returns. Last summer, Humane's return volume began to outpace sales, and the situation was not optimistic. To this end, the company even asked users to stop using the charging case because it has the risk of a battery catching fire. Since then, Humane has reduced the price of AI Pin from $699 to $499, hoping to stimulate sales, but with little success.

After the acquisition is completed, HP will absorb Humane’s engineers and product managers to form a new team, HP IQ, focusing on AI innovation in future work areas. The establishment of this team means HP wants to incorporate a smarter ecosystem into its products and services. At the same time, HP will also obtain some of Humane's technologies, including the CosmOS AI operating system. A recent ad from Humane showed that the operating system can run on automotive entertainment systems, smart speakers, TVs and Android phones, technologies that will help HP integrate AI in personal computers and printers.

It is reported that Humane sought to be acquired for $750 million to $1 billion in May 2024, but the final acquisition price was much lower than expected, showing the dilemma faced by the company. Humane has not responded to media requests for comment.