Watchmakers easing into smartwatch and fitness tracker market with a sense of style

By Gadjo Cardenas Sevilla

Two years ago, almost every smartphone or PC company had some sort of smartwatch in the market. The Apple Watch, a veritable latecomer to the segment, had yet to define its area of focus (something that's happened only in Q3 this year with watchOS 3 and Series 2 devices). 2016 saw smartwatch sales fall by up to 51 per cent according to some sources and various companies who were gung-ho on wearables have pulled out entirely.

This has made it possible for traditional watchmakers to move into the market but they have changed things up a bit by focusing on style and convenience over technological prowess. We now see companies like TAG-Heuer has a connected premium smartwatch, HP has teamed up with Movado, Michael Bastien, Tommy Hilfiger, Coach, Hugo Boss and Scuderia Ferrari to engineer various lines of fashion-first smartwatches that are aimed to entice traditional watch lovers.

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Fossil buys wearable maker Misfit for $260 million

Looks like more watchmakers are now ready to enter the wearable space. This time, Fossil Group just announced that they have agreed to purchase wearable maker Misfit for US$260 million. The company plans to incorporate Misfit’s technologies into its products as early as next year. Misfit CEO and co-founder Sonny Vu will become president and CTO of Fossil Group. The company produces watches for brands such as adidas, Emporio Armani, Michael Kors, DKNY, and Burberry.

“With the acquisition of Misfit, Fossil Group will be uniquely positioned to lead the convergence of style and technology and to become the fashion gateway to the high-growth wearable technology and connected device markets." Kosta Kartsotis, CEO of Fossil Group said in a statement.

Source: The Verge