Fossil has confirmed that they will cease production of their new smartwatches, including both the Wear OS smartwatch and the hybrid e-ink display smartwatch models. This decision comes as Fossil acknowledges the significant growth in the smartwatch market over the past few years. They have strategically chosen to withdraw from this market in order to divert resources towards strengthening their core products, namely classic watches, jewelry, and leather goods. While Fossil plans to continue supporting their existing smartwatch models in the market for several more years, they have not disclosed specific numbers. Previously, Fossil was a prominent player in the Wear OS smartwatch market, until the introduction of Wear OS 3, which saw increased competition from Samsung and Google’s own Pixel Watch, diminishing Fossil’s competitive edge.
(Source: 9to5Google)
TLDR: Fossil is discontinuing production of new smartwatches due to the rapidly evolving smartwatch market. They will focus on their core products like classic watches, jewelry, and leather goods, while continuing to support existing smartwatch models. Competition from Samsung and Google has impacted Fossil’s market position.
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