An eye toward its core lifestyle business, Fossil has announced its departure from the smartwatch market

The Verge reports that American lifestyle brand Fossil has announced the closure of its smartwatch division. Fossil's executive vice president, Jeff Boyer, stated in an interview with the US-based media outlet that the company is reallocating its resources to fortify its core business segments.

Boyer stated, "We have made the strategic decision to exit the smartwatch business as the landscape has evolved significantly over the past few years." He continued, "Fossil Group is reallocating resources to support our core strengths and the core business segments that continue to present us with strong growth opportunities: creating and distributing exciting traditional watches, jewelry, and leather goods under our own and licensed brand names."

The company's final smartwatches are those in Fossil's Gen 6 lineup, which debuted in 2021. Boyer has, however, stated that Fossil will keep updating its smartwatches running Google WearOS for the foreseeable future.

The report states that some Reddit users have been stating that retail staff members at Fossil have stated that the company will no longer be making smartwatches. According to earlier rumors, the company is delaying the release of its new timepieces while it waits for a new chipset for its upcoming smartwatch lineup. Following Fossil's withdrawal from the Consumer Electronic Show 2024, which it had participated in for the previous few years, reports that the company was leaving the smartwatch market began to surface.