To boost up the Prime Minister Narendra Modi’s plan, presenting an electronic India, Lenovo Group Ltd has taken an initiative in introducing smart wearables in the country, as well increasing its share in the localized market by three fold.
Moreover, in an interview on Tuesday, the head of accessories, at Lenovo Mobile Business Group Mr. Sebastian Pend, shared with Reuters the companies targeting towards certain points by end of this year with 20 percent share in the Indian market for its wearable devices such as fitness bands, smartwatches and so on. The day they have started vending wearables all over the country in 2017, around 6 to 7 percent of market share has been captured by the company for the smart wearables in India.
While Peng adds, the production of this wearable will now be executed in India, predicting the market growth of smart wearables at 30 to 40 percent by 2018 end. Right now the manufacturing of this product is based in China, and now they have already made up its plan of starting up manufacturing of this devices within the country and interacting with the local manufacturer, as discussed by Peng, in a telephonic conversation in New Delhi, while attending a product launch.
Lenovo holds its partnership with homegrown e-commerce org Flipkart to exports its wearable devices online, as shared by Naveen Bajaj, India head at Shenzhen Aodishi Technology, an authorized overseas accessories distributors of Lenovo.
In addition, Lenovo that manufactures products that extend from smartphones to laptops will now explore its wearable devices on other online portals like Amazon.com. Networking its physical retailing activities in the major cities of India.
Focusing on smart wearable is the major sector that they are trying to compete this year, building up a confidence for achieving the target, Peng added.
Initially, the market size of wearable in India was $157 million in the year 2017, as per the International Data Corporation. Naming other sellers in India includes Huawei, Fitbit, and Xiaomi Technology. If the local manufacturer shuts off, then the company will start considering India as its manufacturing hub for wearables.
Lenovo currently sells its products HW02 fitness band as well HX03W cardio Smart band through online and retail channels in India.