Is an Apple-Nike partnership on the way?

 It's a simple thing, really, the rubber and stainless steel band that a well-known CEO frequently wears around his wrist.

But the Nike FuelBand that Apple's Tim Cook has been seen sporting at multiple public events is just one clue about a possible deal between Apple and Nike that could be part of the sales pitch when a rumored Apple watch hits the market.

Late on Friday (the traditional time of the week for companies to release bad news), came a news report that Nike had laid off much of the team responsible for the FuelBand and would not continue to update the line of wearable gadgets, which measure physical activity and monitor things like heart rate and calories burned.

Nike had planned to release a new, thinner FuelBand in the fall, but those plans have reportedly been shelved and the company won't say whether there will be a new one. Nike has said it plans to continue supporting the current FuelBand for the "forseeable future" and that new color options will be available.

Neither Nike nor Apple replied to messages seeking comment for this article.Nike told tech blog Re/code that only a "small number" of staffers were laid off and said it remains committed to the Fuel line of fitness products.

Still, the retreat seems odd for a company that has made its name in sports equipment -- and has led to speculations that Nike may be working on a new partnership with Apple."Apple is in the hardware business. Nike is in the sneaker business. I don't think Apple sees Nike as competitive," Jim Duffy, a Nike analyst with Stifel, Nicolaus & Company, told CNET. 

"Nike would be content to let Apple sell devices, as long as they would be supportive of the apps."Even Nike's statement seems to leave the door open that an Apple deal might be the end goal.