Photo: Fossil
Fossil Group has officially exited the smartwatch market, signalling a strategic shift towards focusing on its core strengths in traditional watches, jewelry, and leather goods. In an announcement, Fossil spokesperson Amanda Castelli explained the decision, citing the significant evolution of the smartwatch landscape in recent years.
The company, known for its prolific production of Wear OS smartwatches, has decided to channel its resources into areas that offer strong growth opportunities. Castelli stated, "Fossil Group is redirecting resources to support our core strength and the core segments of our business that continue to provide strong growth opportunities for us: designing and distributing exciting traditional watches, jewelry, and leather goods under our own as well as licensed brand names."
The latest smartwatch from Fossil, the Gen 6, launched in 2021, will mark the end of the company's venture into smartwatches. Castelli assured existing Wear OS watch users that the company will continue to provide updates for their devices for the next few years.
This move by Fossil comes as no surprise to those who have been following the company's recent developments. Rumours circulated on platforms like Reddit, with some users reporting discussions with Fossil retail employees about the company's withdrawal from the smartwatch market. Speculation also hinted at Fossil's anticipation of a new chipset. But the company's absence from CES and the lack of announcements, including the expected Gen 7 featuring the Qualcomm Snapdragon W5 Plus platform in 2023, now make sense in light of this strategic decision.