Fossil Group, set to make an exit from the smartwatch business, with Gen 6 series, launched in 2021, standing as its final release in the smartwatch market.
Fossil’s decision is marking the end of an era for the company's venture into wearable technology, which comes amid a competitive smartwatch Business dominated by tech giants like Apple and Samsung.
Fossil spokesperson Amanda Castelli revealed the company's motives, stating, “As the smartwatch landscape has evolved significantly over the past few years, we have made the strategic decision to exit the smartwatch business.”
Amanda Castelli further explained that Fossil Group aims to redirect resources towards its core strengths, focusing on designing and distributing traditional watches, jewellery, and leather goods, for which it is renowned, under both its own and licensed brand names.
Fossil entered the smartwatch market in 2016 with new hybrid watches that blended classic design with smart features that initially found success, but fierce competition from tech giants, particularly Apple and Samsung, posed challenges.
Fossil's stylish smartwatches fell short in functionality compared to rivals, with Wear OS improvements unable to overcome battery life and app compatibility issues. Intense market innovation and price drops further challenged Fossil's ability to sustain a premium price point with competitive features.
The Gen 6 series, featuring a 44mm round casing with a 1.28-inch round OLED screen, that was launched in 2021, will be the last of Fossil's smartwatches. Castelli assured that existing Wear OS watches will receive updates for the next few years.
Fossil's exit from the smartwatch market was confirmed due to a lack of recent appearances, including CES, and the absence of plans for a Gen 7 release with Qualcomm Snapdragon W5 Plus in 2023.
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