Nike, the world's biggest sportswear maker, has said it will stop selling golf equipment, including clubs, golf balls and bags.

The company, which built its golf business on the success of golfer Tiger Woods, said it would instead accelerate innovation in its golf footwear and apparel business and on partnering with more golfers.

Nike did not give a timeline for the planned exit.

The company is the second major sporting goods maker reviewing its golf business.

Adidas said in May it would sell the bulk of its loss-making golf business, hurt by waning interest in the sport, especially in the US.

The number of people playing golf in the US has fallen sharply after peaking in 2000, when Tiger Woods was in his prime.

For Nike, the problem is particularly acute.

A Nike-sponsored golfer has not won a major golf tournament in the last eight championships.

Nike is also facing stiff competition from smaller domestic rival Under Armour, which has successfully lured top sports personalities to endorse its brands.

Jordan Spieth, last year's no 1 ranked golfer, endorses Under Armour.

Sales in the golf business fell 8% to $706m in Nike's latest financial year ended 31 May.

It is one of the company's smallest businesses, contributing about 3% to its total revenue.