Fossil Group has announced that it will exit the smartwatch business and redirect its resources to other, less “smart” products. The company has been one of the most prolific Wear OS device makers over the years, and filling its gap in the market won’t be easy.
“As the smartwatch market has changed significantly in recent years, we have made the strategic decision to withdraw from the smartwatch business. Fossil Group will shift resources to support our core businesses and core business segments that continue to provide us with significant growth opportunities: the development and sale of spectacular heritage watches, jewelry and leather goods under our owned and licensed brands.”– said Fossil representative Amanda Castelli about the resource The edge.
Fossil launched the Gen 6 smartwatch in 2021, and that model will remain the company’s last – although it will continue to update existing Wear OS watches “over the next few years.” Rumors about Fossil’s drastic decision have been circulating for several months – some Reddit users reported that the company was leaving the business, citing representatives from the company’s retail network; others said they were waiting for a new processor to be released. Fossil remained in the Wear OS camp even during the segment’s toughest years and was a regular at CES. She missed the event this year, and now it’s clear why.