If you are a Motorola fan and were eagerly waiting for the release of the Moto 360 (3rd gen), your wait just got longer for the indefinite period. At a press event held in Chicago yesterday, Motorola revealed that it has no plans of making a new smartwatch anytime soon.

Talking at the event, Motorola’s head of global product development Shakil Barkat said that the company is not seeing “enough pull in the market” to release a new smartwatch at the moment. It basically means that there will not be any new Motorola smartwatch in near future as opposite to many expected to see a new one next year running Android Wear 2.0.

Barkat further went on to say that “wearables do not have broad enough appeal for us to continue to build on it year after year.” It clearly corroborates the common belief that wearables are still pretty much a niche product and do not appeal to masses. This also seems to explain the situation when Motorola, LG, and Huawei confirmed that they will not be releasing any Android Wear smartwatches this year.

Motorola currently has two Android Wear smartwatches in the market, the Moto 360 and Moto 360 (2nd gen). It also has plans for upgrading the second one to Android Wear 2.0 once it becomes available.

While Motorola has now put smartwatch plans on hold for the moment, you can only hope and pray for a quick comeback. The company has also hinted at a possible return to wearables if the situation improves but at the moment, it’s just an indefinite wait.