Fossil has decided to discontinue its smartwatches

 

Fossil declared this afternoon that it was leaving the smartwatch market in order to redirect resources toward its more conventional products. Fossil is a well-known manufacturer of Wear OS smartwatches, thus its departure will leave a significant gap in the market. “We have made the strategic decision to exit the smartwatch business,” said Jeff Boyer, Executive Vice President and Chief Operating Officer of Fossil, in explaining the decision. “The smartwatch landscape has evolved significantly over the past few years,” Boyer said. Fossil Group prioritizes the design and marketing of classic timepieces, jewelry, and leather items under its own and licensed brand names. It also plans to concentrate on its core competencies and market niches with robust development potential.

Fossil’s official departure from the smartwatch industry will occur with the Gen 6, which was unveiled in 2021 and signals the conclusion of the company’s smartwatch venture. It has been emphasized by Jeff Boyer, Executive Vice President and Chief Operating Officer of Fossil, that Wear OS watches that are already in use will get upgrades for the foreseeable future.

This choice is consistent with previous hints that Fossil may be pulling out of the smartwatch business, according to reports from Reddit users. The fact that Fossil chose not to attend CES earlier this month contributed to the growth of rumors around a potential withdrawal. Fans were left wondering after the Qualcomm Snapdragon W5 Plus platform was not mentioned in the Gen 7 announcement that was expected to happen in 2023. With this clarification, Fossil’s strategic move away from smartwatches is now clear.

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