Declining smartwatch market prompts Fossil to discontinue designer wearables

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Smartwatches were once viewed as novelty items, but with the success of the Apple Watch and collaboration with fashion brands, these wearable devices became mainstream. Despite this, the business still isn’t as profitable as expected, prompting brands like Fossil to reconsider their strategies. Fossil has decided to exit the smartwatch market and focus on their more lucrative designer products. Smartphone manufacturers initially dominated the smartwatch market with unattractive, clunky devices, but collaborations with luxury brands made smartwatches more fashionable. However, the market for fashionable smartwatches appears to be stagnant or shrinking, with consumer electronics companies holding the upper hand. Fossil has confirmed its exit from the smartwatch market, making their 2021 Gen 6 model their last. They plan to continue supporting existing smartwatches for a few years, but the future of designer smartwatches remains uncertain. This move suggests that smartphone manufacturers may once again dominate the market.


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