Honor Eyeing $2.3 Billion Revenue From Its Wearable Business

Huawei's sub-brand Honor is eyeing $2.3 billion (close to Rs. 16,500 crores) revenue from its wearables business in 2020. It plans to launch more products in the same category, reports IANS. According to the report, the company will focus on launching more wearables, not the smart TV models.

"India is a huge market for Honor. In terms of launching smart devices, right now the company is focused on wearables because the import duty on them is less while on AI screens or smart TVs the duties are extremely high," Daniel Tan, Vice President of Honor Smart Life, was quoted by the news agency. Adding to that "To overcome this challenge, we would work on establishing our manufacturing unit or assembling the unit for AI devices in India."

Furthermore, the report reveals that at present, Honor is not focusing on launching AI screens in India. On the other hand, the company is planning to launch laptops in the country.

"For smart TVs, it will take some time as we need to work with local content providers for our TVs," Tan further added. However, the company has unveiled its first smart TV at Indian Mobile Congress 2019, and it is expected that it will officially launch in 2020.

Meanwhile, the company has launched two 5G phones -- the Honor V30 and the Honor V30 Pro in China. For the unware, the Honor V30 series is supporting both NSA and SA simultaneously. In fact, the company is planning to bring more 5G smartphones. On the other hand, Honor has cleared that there is no plan to abandon 4G smartphones.

Notably, many smartphone makers like Xiaomi and OnePlus are already selling their smart TVs in India. Nokia is planning to launch its smart TV with Flipkart on December 5th in India, which expected to be priced at Rs. 39,999 for a 55-inch screen. Moreover, it is also expected that the Skyworth India Electronics, a subsidiary of China-based Skyworth Overseas Development, is manufacturing smart TV for Nokia in the Hyderabad plant.