For those of you that are fans of the Lenovo Moto 360 smartwatch, let’s hope you aren’t waiting for a new version anytime soon. Lenovo has now stated that it isn’t in any hurry to release a new version of the Moto 360 smartwatch. Currently, the company even told journalists that there is no plan to release a new version of their smartwatch in 2017.
Back in September, we learned that we wouldn’t see a new smartwatch from Moto, LG or even Huwaei this year, but many believed that the companies would be releasing new watches sometime in the first or second quarter of 2017. Now this doesn’t seem to be the case, at least for Moto.
“The relevancy of the device isn’t where it needs to be,” said Shakil Barkat, head of Lenovo’s global product development, of which the Moto brand is a part. “It doesn’t have broad enough appeal for us to continue to build on it year after year.”
While there won’t be a new smartwatch from Lenovo next year, that doesn’t mean the company has given up on the wearables market. “Wrist real estate will become relevant,” Barat said, adding that “right now, we don’t think the market’s ready for it.”
No doubt, the market has been tough for many smartwatch makers this past year, and it seems Lenovo agrees that the market just isn’t quite there yet for a next generation smartwatch. Many manufacturers have been left with excess inventory as fewer watches are sold, and Lenovo may not be any different.
The news that the company has decided not to refresh its flagship smartwatch isn’t a welcome one, that’s for sure. Many smartwatch fans have been waiting and hoping that the market would turn around, but it seems in some ways consumers just aren’t ready for a wearables market.
The same can’t be said for Apple, however. The Apple Watch is the undisputed smartwatch leader as the company has sold millions of smartwatches and even released an updated version of the smartwatch. Still, even Apple has sold less than they were hoping, even if they have sold enough to consider both the Apple Watch and the Apple Watch 2 a resounding success.
It seems that at least Lenovo was looking for a much broader appeal and larger market than the one they entered. It’s possible they assumed the market would continue to grow only to find a market that has stagnated recently. While we will have to wait for quite some time for a new smartwatch, it sounds like the company isn’t ready to give it up just yet. They just want to wait it out a bit longer before investing in a new smartwatch.
What do you think about this news? Are you disappointed that the company doesn’t plan on releasing a new smartwatch or were you not a fan of the Moto line to begin with? Tell me your thoughts on this and the health of the smartwatch market in the comments below.