Google is hinting that they will manufacture and sell their own Google-branded smartwatches soon that it is revealed that Google will pay Fossil, the fashion brand, a sum of USD $40 million to buy the intellectual property (IP) related to smartwatch technology that is still under development.
The official press release that is available at Fossil’s website highlights that this is a transaction between Fossil and Google rather than an acquisition since “Fossil Group retains more than 200 R&D team members to focus on innovation and product development” and that part of the R&D team will be joining Google.
Wearables, built for wellness, simplicity, personalization and helpfulness, have the opportunity to improve lives by bringing users the information and insights they need quickly, at a glance. The addition of Fossil Group’s technology and team to Google demonstrates our commitment to the wearables industry by enabling a diverse portfolio of smartwatches and supporting the ever-evolving needs of the vitality-seeking, on-the-go consumer.
– Stacey Burr, Vice President of Product Management, Wear OS by Google
Exclusively on Wareable, it is revealed that Fossil will still “launch multiple devices across its brands based on the new tech” and is currently “focused on finishing off development of the product.”
While exact details of the Google-Fossil transaction is not known, it is definitely hinting at a Google-made smartwatch to complement the Google Pixel lineup of smartphones. However, that means we have to wait for at least a few more months or perhaps next year before any products are shown.
The Google-Fossil transaction is expected to complete at the end of January 2019.
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