However it seems that is no longer the case. According to Engadget, Samsung has since reached out to provide a comment that pretty much refutes the original report. According to Samsung, “We disagree with Fast Company’s interpretation. Samsung has not made any announcement concerning Android Wear and we have not changed our commitment to any of our platforms.”
This isn’t a flat out denial as it simply sounds like Samsung just did not agree with how Fast Company had originally interpreted their findings. It is possible that it could be true that Samsung will not be giving up on Android Wear, but at the same time their statement suggests that maybe there won’t be any new products based on Android Wear for the time-being, as opposed to not ever.
Note that this is a similar statement that Samsung has made in the past regarding their NX cameras, but from what we can tell the company has exited several markets already and several of their cameras have since been listed as discontinued, and we haven’t really heard anything about new cameras since.