Fossil Group has decided to exit the smartwatch business, making the Gen 6 series its last offering in this category. Fossil, known for its Wear OS smartwatches, cited significant changes in the smartwatch landscape as the reason for this strategic decision.
Reportedly, the company plans to redirect resources to focus on its core strengths, emphasising the design and distribution of traditional watches, jewellery, and leather goods under its own and licensed brand names.
Gen 6 as the Final Chapter
The Gen 6 series, introduced in 2021, will mark the end of Fossil's smartwatch journey. Despite initial expectations for a Gen 7 release featuring the Qualcomm Snapdragon W5 Plus platform in the previous year, Fossil decided to discontinue its smartwatch line.
Continued Support for Existing Watches
While new smartwatches will no longer be produced, Fossil commits to keeping existing Wear OS watches updated for the next few years. This ensures that current users will continue to receive support and updates for their devices.
Shift to Traditional Watches and Collaborations
Fossil's strategic move aligns with the evolving market dynamics, enabling the company to concentrate on its core segments that offer robust growth opportunities.
In 2022, Fossil showcased its collaboration prowess by introducing 'STAPLE x Fossil,' a watch collaboration designed in partnership with the renowned streetwear brand STAPLE, led by creative icon Jeff Staple.
Inputs from IANS
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