Fossil and CITIZEN Partner to Grow Hybrid Smartwatch Market

Fossil Group and CITIZEN Watch Company, Ltd. recently announced that they have entered into a global strategic technology licensing partnership designed to expand the worldwide reach and scale of hybrid smartwatches. The partnership leverages CITIZEN’s globally respected watch movement expertise while providing CITIZEN access to Fossil Group’s hybrid smartwatch technology. As part of the agreement, CITIZEN will manufacture hybrid smartwatch movements incorporating Fossil Group’s technology and sell hybrid smartwatch movements and complete watches to the broader watch industry. CITIZEN and Fossil Group will also collaborate in bringing future innovation to the smartwatch category. “Our partnership with CITIZEN will enable us to broaden and accelerate the awareness and adoption of hybrid smartwatches,” says Fossil Group CEO Kosta Kartsotis. “This transaction is the result of our technology investments and demonstrates the capabilities we’ve developed in the wearables category and the larger watch industry. Together with CITIZEN, we’ll leverage the technology to drive scale in the hybrid smartwatch market that will bring innovative and compelling new products to the watch market and improve our product costs.” For more information, click here.

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