The team also promoted linebacker Taiwan Jones from the practice squad Friday to take Smith's spot on the roster.
Smith tore the anterior cruciate ligament in his right knee while covering a punt in the third quarter of New York's 30-8 victory over Tennessee on Sunday. The Jets' second-round pick out of Ohio State had just nine catches for 115 yards and a touchdown. Smith missed most of training camp and the first two games of the regular season while recovering from broken ribs and a punctured lung suffered while making a catch during practice.
Jones was signed as an undrafted free agent out of Michigan State in May.
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