Fossil Plans LTE-Connected Watch by Holidays
Fossil said it’s “hard at work” on its first cellular LTE-connected watch for debut in time for the holidays. The coming LTE smartwatch introduction will be built on the generation 5 software platform, said Chief Commercial Officer Greg McKelvey. It’s…
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a “particularly interesting” SKU because “it opens us up to the telco channel as a meaningful incremental distribution opportunity,” he said. “The near-term refocusing of the wearables business along with continuing to push on innovation is creating a path to profitable growth in connected. We think and believe 2021 is the turning point where our teams make that happen again.” The company remains “confident” in connected watches, though profitability in the category has been a struggle, McKelvey said. Smartwatches “offer us a substantial total addressable market opportunity,” he said. “We also remain very confident in our team's ability to compete and grow this business. For us, everything starts with product.”