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Fossil Group Bids Farewell to Smartwatches, Focuses on Core Business
Fossil Group discontinues smartwatch production, citing a strategic shift to traditional watches, jewellery, and leather goods for sustained growth.
In a significant move, Fossil Group has decided to exit the smartwatch market, marking the end of an era for the company's involvement in wearable technology. The announcement, made by Fossil spokesperson Amanda Castelli, emphasized the company's strategic decision to redirect resources towards its core strengths, including the production of traditional watches, jewellery, and leather goods under both proprietary and licensed brand names.
Fossil, a prolific maker of Wear OS smartwatches, leaves a notable void in the smartwatch landscape. The decision comes in light of the evolving smartwatch industry, prompting Fossil to refocus on segments that offer robust growth opportunities. The company clarified that the recently launched Gen 6 in 2021 will be the final smartwatch in its lineup.
Castelli assured existing Wear OS watch owners that Fossil will continue to provide updates for the next few years, ensuring ongoing support and functionality. This move aligns with reports circulating on Reddit in recent months, where some users hinted at Fossil's departure from the smartwatch market, citing information from retail employees and insiders.
The absence of Fossil from CES earlier in the month raised eyebrows, especially considering the anticipation surrounding a potential Gen 7 announcement featuring the Qualcomm Snapdragon W5 Plus platform in 2023. However, the expected news never materialized, leaving industry observers speculating about the company's future in the smartwatch domain.
As Fossil bids farewell to smartwatches, the decision underscores a broader trend in the industry, highlighting the challenges and shifting dynamics companies face in the wearable technology market. With a renewed focus on its core business segments, Fossil Group aims to capitalize on the enduring appeal of traditional watches, jewellery, and leather goods in the ever-evolving consumer landscape.
