3D Systems announced that it will pull the plug on the production of its $999 consumer 3D printer, the Cube, as part of its plans to shift away from consumer products and focus all available resources and strategic initiatives on near-term opportunities and profitability.
The company said it will continue to sell the existing inventory of Cube printers, with the sale of the CubePro 3D printer – designed for desktop engineering and professional applications – to continue uninterrupted.
3D Systems will close the Cubify.com consumer platform on 31 January 2016 and provide ongoing support and sale of materials for Cube customers through a new e-commerce platform on its primary corporate domain, 3dsystems.com.
The company’s line of retail products, including phone cases and jewellery, that were previously available on Cubify.com will also be discontinued.
3D Systems’ management believes a greater focus on manufacturing applications and delivering new and enhanced manufacturing systems can drive adoption, generate higher returns on investment and increase earnings.
Andy Johnson, Interim-Chief Executive Officer & Chief Legal Officer, 3D Systems, said the shift away from consumer products is expected to impact the company’s revenue by less than 2% and to considerably improve profitability.
“In connection with our ongoing review of our business and industry, we believe that the most meaningful opportunities today are in professional and industrial settings, from the product design shop to the operating room to the factory floor,” Mr Johnson said.
“We are focusing our efforts on enabling professionals and companies to improve their designs, transform their workflows, bring innovative products to market and drive new business models.”