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Fossil's smartwatch journey ends: CEO confirms exit from Wear OS market
- Fossil has decided to exit the smartwatch market.
- The company will not launch any new smartwatches, making the Fossil Gen 6 the last Wear OS device from the group.
- Fossil is redirecting its resources to support its core segments, including traditional watches, jewelry, and more.
In a surprise announcement, Fossil has said it plans to quit the smartwatch business and focus its resources on other devices. Jeff Boyer, Fossil’s Executive Vice President and CEO, confirmed the news to The Verge over the weekend.
“As the smartwatch landscape has evolved significantly over the past few years, we have made the strategic decision to exit the smartwatch business,” said Boyer.
Fossil has been in the business of making smartwatches for a while now. The company initially introduced hybrid models but later embraced full-fledged smartwatches powered by Google’s Wear OS platform. Since then, Fossil has emerged as a prominent player in the smartwatch market, firmly establishing its reliance on the Wear OS platform alongside other leading brands.
The Fossil Gen 6 smartwatches were the company’s last batch of Wear OS timepieces. We also had high hopes for Fossil’s Gen 7 series, but with the latest announcement, it doesn’t look like the company will launch any new smartwatches before it shuts shop on the division.
“Fossil Group is redirecting resources to support our core strength and the core segments of our business that continue to provide strong growth opportunities for us: designing and distributing exciting traditional watches, jewelry, and leather goods under our own as well as licensed brand names,” the Fossil spokesperson added.
Boyer has promised that the company will keep releasing Wear OS updates for existing smartwatches “for the next few years.”