Fossil Group abandons the smartwatch market to concentrate on its traditional business

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Fossil Group has made a strategic decision by abandoning the smartwatch market with Wear OS, according to an official company statement. This measure marks a significant change in the company's strategy, which now seeks to focus its efforts and resources on its most traditional and strongest areas. Fossil Executive Vice President and Chief Operating Officer Jeff Boyer announced this decision, highlighting that, due to constant changes in the smartwatch landscape, the company has chosen to stop producing and marketing its line of smartwatches. Although this decision means that no new models will be released, Fossil is committed to providing software support and updates to existing Wear OS devices for years to come. This strategic reorientation will allow Fossil to focus on strengthening its core business. Boyer explained that the company will be primarily engaged in the design and distribution of traditional watches, jewelry and leather goods, both its own brands and licensed brands.

In this way, Fossil seeks to take advantage of the growth opportunities it sees in these segments and focus on its fundamental strengths. Although Fossil has been recognized for its range of 'smartwatches', the decision to abandon this market does not im Liechtenstein Email List ply a total abandonment of the technology. The company will continue to provide support and updates to current users of its Wear OS devices, ensuring they are not immediately left behind. In summary, Fossil Group has chosen to redefine its business focus and stop producing 'smartwatches' to concentrate on strengthening its traditional business of watches, jewelry and leather goods. Although this decision marks an important change, Fossil will continue to support its current smartwatch users for years to come. Frequently Asked Questions (FAQ) Section: . What is the strategic decision that Fossil Group has made? Fossil Group has decided to abandon the 'smartwatch' market with Wear OS and focus on its most traditional and strongest areas.



Why has Fossil decided to stop producing and marketing its line of 'smartwatches'? The company has chosen this decision due to the constant changes in the smartwatch landscape. . What implications does this decision have? The decision means that no new smartwatch models will be launched, but Fossil will continue to provide software support and updates to existing Wear OS devices. . What will Fossil focus on from now on? Fossil will focus on strengthening its core business, which is the design and distribution of watches, jewelry and traditional leather goods. . What growth opportunities does Fossil see in these segments? The company sees growth opportunities in the design and distribution of watches, jewelry and leather goods, both its own brands and authorized brands. . What will happen to current users of Fossil's Wear OS devices? Fossil will continue to provide support and updates to current users of its Wear OS devices to ensure they are not immediately left behind. Definitions of key terms: – Wear OS: Operating system used in smartwatches from Fossil and other manufacturers.