Fossil's Gen 6 watch which was launched back in 2021 now becomes its first and last smartwatch.
Fossil Pulls Out Of Smartwatch Market, To Redirect Resources Towards Core Strengths
Fossil's Gen 6 watch which was launched back in 2021 now becomes its first and last smartwatch.
Fossil Smartwatch
American watchmaker Fossil Group has pulled out from the smartwatch market and ended its years-long endeavor of bringing stylish tech wearables to the market. The company on friday told The Verge that it has decided to stop producing smartwatches. Fossil spokesperson Amanda Castelli said, “As the smartwatch landscape has evolved significantly over the past few years, we have made the strategic decision to exit the smartwatch business."The exit of Fossil might not be a huge shock to people as some Redditors had been posting that Fossil was pulling out of the business while other users claimed to have 'insider knowledge' and said that the company was awaiting a new chipset.
Fossil's Struggle In Market
Fossil was one of the few traditional watchmakers who were trying to adapt to the new smartwatch trend over the past ten years. The wearable category finally gained momentum in 2021 when google and samsung entered into a partnership to come up with a major software update.From now on, as per the spokesperson, Fossil will be concentrating on its traditional watches, jewelry, and leather goods. Despite smartwatches becoming mainstream, old-school timepieces still make up the vast majority of Fossil’s fortune. Tech giants like google, Apple, and samsung have now taken over the smartwatch landscape with other brands such as OnePlus and Noise trying to solidify their place in the market.