The Cardinals released Smith (undisclosed) with an injury settlement Tuesday, per the NFL's official transaction log.
Smith spent the entire offseason with Arizona, but he appears to have picked up an undisclosed injury during training camp. The journeyman wideout will be eligible to sign with another club once healthy. He suited up for 11 regular-season games with the Jets last year, hauling in eight of 11 targets for 134 yards in that span.