Google to stop selling 1st version of Glass; reorganized unit to report to Nest CEO: DJ

Google retrenches on Glass

Google will stop selling the current version of its Google Glass and reorganize the business behind it, Dow Jones reported on Thursday.

Google will release a new version of the much-hyped wearable data product at some point this year, the report said.

The tech giant's shares were largely unaffected following the news.

The newly reorganized Glass business will report to Tony Fadell, CEO of Nest, the home automation company Google acquired last year.

Ivy Ross, the current head of Glass, will retain day-to-day duties and authority, but will start reporting to Fadell, according to another report from The Verge.

"We realize that we've outgrown the lab and so we're officially "graduating" from Google[x] to be our own team here at Google." the company said in a statement. "As part of this transition, we're closing the Explorer Program so we can focus on what's coming next. January 19 will be the last day to get the Glass Explorer Edition."

Google expects to wind down its Explorer program in the coming months, Fortune reported Thursday.