It took a while to compete in the plastic pistol marketplace after that stumble with the Sigma.  For a short time they imported a Walther and put their own name name on it--that was a another failure, business-wise.  The S&W99 (nee Walther P99) was a good pistol, but it had a strange decocker on top of the slide, and it wasn't really a Smith & Wesson.

Well, it hadn't been that long since S&W had been sold to a British company and was still in recovery, having been a foreign company and once again being an American company.  They became the Walther importer for a while, and actually built some Walther pistols in a Smith & Wesson plant in Maine, like the PPk, which explains why they sold a Walther pistol as a Smith & Wesson.  That relationship is over now.

Note slide markings on this Walther:

Smith & Wesson still sells lots of revolvers but most of them have that lock, which most of us fans of the older revolvers really dislike.  And when they started bringing out "replicas" of many of their older models and calling it the Classic line, I personally disliked them because they changed so many features the guns really didn't resemble the originals.

Today S&W is mostly a seller of plastic pistols, revolvers their traditional fans don't like, and 1911s--a market they got into some years back.