Fossil says goodbye to the smartwatch market (for good)،
In a surprising (and unfortunate) turn of events, Fossil Group has just announced that it will no longer release smartwatches, so the Gen 6 series will be its last products in this category.
Given that competition in the smartwatch industry has only increased in recent years, it's no wonder Fossil has made the decision to withdraw from the race.
Ironically, Fossil is one of the few companies that manages to release multiple smartwatches each year. Unfortunately, it seems sales were so terrible that they caused Fossil to make this drastic decision.
In a statement for The edgeFossil spokeswoman Amanda Castelli said the company would redirect its resources to support its core business, leaving the smartwatch market to other players.
As the smartwatch landscape has evolved significantly over the past few years, we have made the strategic decision to exit the smartwatch business. Fossil Group is redirecting its resources to support our core strength and key segments of our business that continue to provide us with strong growth opportunities: the design and distribution of exciting traditional watches, jewelry and leather goods under our own brands as well as under licensed brands.
It's worth mentioning that Fossil has confirmed that it will continue to offer updates to its Wear OS smartwatches for a few years, so that's good news if you own a Fossil product.
In the coming weeks and months, Fossil will likely have several sales to get rid of its inventory, so be on the lookout for these deals if you're looking for a cheap but stylish smartwatch.
