probably yes. The Apple watch has eaten into their market - the lower priced fashion watches. Not sure why they'd get rid of their smart watch division.
Maybe because only one watch can have wrist time at a time (maybe except for Buzz Aldrin) and Apple catches a big portion of the market by default already (almost all of the iPhone userbase).
isn't fossil owned by swatch? They have a generally successful actual watch business, and they probably just decided it's time to stop losing money on this since it's not actually a core business.
