Fossil’s exit from the smartwatch market comes amid a changing landscape for wearable devices. The company cited increased competition, changing consumer preferences and a desire to focus resources on its core strengths as reasons for its decision.
Fossil’s latest smartwatch, Gen 6, was released in 2021. The company has promised to continue releasing software updates for existing Wear OS watches over the next few years.
Fossil’s departure leaves a significant gap in the smartwatch market, especially given its long history and expertise in wearable technology. It remains to be seen how the market will react to this development and how other smartwatch manufacturers will take advantage of the opportunities created by Fossil’s departure.
Source: Ferra
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