Fossil Exits Smartwatch Business

Company to Continue Support for Existing Models, Focus on Core Segments

Fossil, a major player in the smartwatch industry, has announced its exit from the business, citing strategic reasons and a significant evolution in the smartwatch landscape.
The company's last smartwatch, the Fossil Gen 6 Hybrid, was released in 2022.
Fossil will continue to support its existing smartwatches that run on Google's Wear OS with updates for the next few years.
The company's decision to exit the smartwatch business will allow it to redirect resources to its core segments, including traditional watches, jewelry, and leather goods.
Despite its exit, Fossil is offering incentives to customers, such as a 50% discount on certain models and a store credit worth the original non-discounted retail price if a discounted smartwatch runs into an issue within the first year of purchase.