Highlights
- Fossil Group announces exit from the smartwatch market.
- Company to focus on traditional watches, jewelry, and leather goods.
- Fossil Gen 6 to be the last in its smartwatch series.
- Fossil commits to providing updates for existing Wear OS watches.
Fossil Group has made the strategic decision to exit the smartwatch market.
This move marks a significant shift for the company, which has been a prominent player in the Wear OS smartwatch sector for years.
The End of an Era for Fossil Smartwatches
Fossil’s departure from the smartwatch business signifies the end of its journey in a market that has seen substantial evolution over the past few years.
Amanda Castelli, a spokesperson for Fossil, conveyed that the company is reallocating its resources to reinforce its core products – traditional watches, jewelry, and leather goods.
This refocusing is aimed at capitalizing on segments that continue to show strong growth potential.
With this shift, the Fossil Gen 6 smartwatch, launched in 2021, stands as the final model in Fossil’s smartwatch lineup.
However, the company assures existing customers that it will continue to provide updates for its Wear OS watches for the next few years, offering some solace to those who own Fossil smartwatch products.
Signs Leading to Fossil’s Exit
Hints of Fossil’s exit from the smartwatch business were noticeable in recent months.
Reports from Reddit users citing Fossil retail employees and others claiming insider knowledge suggested a potential pullout from the market.
Additionally, Fossil’s absence from major tech events like CES earlier this year, coupled with silence on the expected announcement of a new Gen 7 smartwatch featuring the Qualcomm Snapdragon W5 Plus platform, indicated a shift in the company’s direction.
In the coming weeks and months, consumers might find opportunities to purchase Fossil’s smartwatches at discounted prices as the company looks to clear its inventory.
For those interested in stylish yet affordable smartwatches, these sales could present a valuable chance to acquire a Fossil smartwatch.
FAQs
Why is Fossil exiting the smartwatch market?
Fossil Group has decided to leave the smartwatch market to reallocate resources and focus on strengthening its core products, including traditional watches, jewelry, and leather goods, areas showing strong growth potential.
What will happen to the Fossil Gen 6 smartwatch?
The Fossil Gen 6 smartwatch will be the last model in Fossil’s smartwatch lineup. However, Fossil has assured that it will continue providing software updates for its existing Wear OS watches.
Can consumers still buy Fossil smartwatches?
In the near future, consumers may find Fossil smartwatches available at discounted prices as the company clears its inventory. This provides an opportunity for those looking for affordable, stylish smartwatches.
Were there any signs indicating Fossil’s exit from the smartwatch market?
Indications of Fossil’s exit were seen in recent months, including the absence from major tech events like CES and lack of news on new smartwatch models, signaling a shift in the company’s strategy.
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