Fossil Group Exits the Smartwatch Business
Fossil Group announced its decision to exit the smartwatch market and concentrate on its traditional product lines.
As a prominent player in the production of Google’s Wear OS smartwatches, Fossile’s departure is expected to leave a void for those looking for alternative smartwatch designs that aren’t from Apple or Samsung.
“As the smartwatch landscape has evolved significantly over the past few years, we have made the strategic decision to exit the smartwatch business. Fossil Group is redirecting resources to support our core strength and the core segments of our business,” said a spokesperson Amanda Castelli to The Verge.
The company confirmed that the Gen 6 smartwatch, launched in 2021, will be Fossil’s last. Castelli assured that Fossil will maintain updates for existing Wear OS watches for the coming years.
This decision doesn’t come as a complete surprise to industry observers. In recent months, there had been speculation on Reddit about Fossil’s potential exit from the smartwatch business.
Additionally, Fossil was no where to be found at CES earlier this month and the lack of announcements regarding a new Gen 7 model featuring the Qualcomm Snapdragon W5 Plus platform in 2023 further fueled rumours it was winding down its smartwatch business.
The Fossil Canada website still lists its Gen6 Wellness Smartwatch for sale, down to $139 CAD from its original price of $429 CAD.
Fossil says it will now continue to focus on traditional watches and other accessories.