Intel is reportedly preparing to sell the majority stake of its augmented reality (AR) business, which sits under the company’s New Devices Group. The AR division is valued somewhere in the neighborhood of $350m. Intel will maintain a minority stake in the business, but wants to outsource operations and sales to better positioned consumer-facing companies. As revenues at Intel have flattened, the company is looking for new devices to run on its chips. But the planned sale of the AR business, which will be called Vaunt according to sources, can be seen in the context of a wider shift away from consumer products and specifically wearables – which a few years ago was considered an up-and-coming device market and an…