Fossil Exits Smartwatch Market, Gen 7 Cancelled: But Why?

HIGHLIGHTS:

• Fossil has decided to stop making smartwatches, including the anticipated Gen 7.

• The company is focusing more on traditional watches, jewelry, and leather goods.

• Current Fossil smartwatches will still get updates for a few years.

Fossil has officially declared its exit from the smartwatch business, marking the end of the much-anticipated Gen 7 Wear OS smartwatch lineup. The decision comes as a response to the evolving landscape of smartwatches and a strategic shift in Fossil Group's focus. Let's delve into the details of this noteworthy announcement.

Farewell to Gen 7:

Fossil had teased the Wear OS-running Gen 6 smartwatch lineup in August 2021, but the company left enthusiasts waiting for the Gen 7. Confirming recent speculations, a spokesperson for Fossil Group, Amanda Castelli, revealed, "As the smartwatch landscape has evolved significantly over the past few years, we have made the strategic decision to exit the smartwatch business."

New Focus for Fossil:

The departure from smartwatches doesn't mean Fossil is abandoning technology altogether. Instead, the company is redirecting resources to reinforce its core strengths in designing and distributing traditional watches, jewelry, and leather goods. This move aligns with their commitment to areas that continue to offer robust growth opportunities.

Discounts on Existing Models:

Reports from last month hinted at Fossil's withdrawal from the Wear OS smartwatch market, accompanied by substantial discounts on existing models. These discounts were likely aimed at clearing inventory as the company made its strategic exit, mitigating any surprises for consumers.

Continued Support for Existing Smartwatches:

While Fossil bids adieu to new smartwatch releases, existing Wear OS-powered smartwatches will still receive support and updates for the next few years. Users can expect continued maintenance to ensure a smooth and bug-free experience with their devices.

Verdict:

As Fossil Group takes a step back from the smartwatch race, the industry witnesses the end of an era for the brand in this particular technological domain. The focus now shifts to traditional watches, jewelry, and leather goods, leaving room for other players to shape the future of smartwatches. For existing Fossil smartwatch users, the promise of ongoing support offers a silver lining amid this significant transition.

(Source)