Fossil Group has decided to exit the smartwatch business, marking the end of its involvement in the production of Wear OS smartwatches.
The company, known for its prolific smartwatch offerings, plans to shift its focus and resources towards traditional watches, jewelry, and leather goods.
The decision comes as a response to the significant changes in the smartwatch landscape over the past few years.
The announcement means that the Fossil Gen 6, launched in 2021, will be the final smartwatch from the company.
Fossil spokesperson Amanda Castelli clarified that existing Wear OS watches will still receive updates for the next few years.
This move by Fossil does not come as a surprise for those following the company, as there were earlier indications on Reddit about employees suggesting an exit from the smartwatch business.
Some speculated that Fossil was awaiting a new chipset. The company, a regular participant at CES, was notably absent from the recent show.
Additionally, expectations for a Gen 7 announcement with the Qualcomm Snapdragon W5 Plus platform in 2023 went unmet.
The decision reflects Fossil’s strategic choice to refocus on core strengths and segments of its business with strong growth opportunities.