Fossil Group has officially declared its exit from the smartwatch market, opting to reallocate resources to focus on its core products. A company renowned for its extensive production of Wear OS smartwatches, Fossil’s departure leaves a significant void in the market. Amanda Castelli, a spokesperson for Fossil, explained the decision, stating, “As the smartwatch landscape has evolved significantly over the past few years, we have made the strategic decision to exit the smartwatch business.” Fossil will redirect its efforts toward traditional watches, jewellery, and leather goods, areas that present robust growth opportunities.
The latest smartwatch from Fossil, the Gen 6, introduced in 2021, will mark the end of the company’s ventures into smartwatches. Castelli assured that existing Wear OS watches would receive updates for the next few years. While recent reports on Reddit hinted at Fossil’s potential withdrawal from the smartwatch business, the company’s absence from CES this year raised eyebrows. Earlier expectations of a Gen 7 announcement featuring the Qualcomm Snapdragon W5 Plus platform in 2023 were met with silence, leaving enthusiasts wondering about the company’s plans.
In light of these developments, Fossil’s departure from the smartwatch arena reflects a broader shift in market dynamics and technology trends. The company’s decision to refocus on its traditional strengths aligns with strategic considerations in response to the evolving landscape of wearable technology.