Watch manufacturer Timex which has recently launched IQ+ Move in India is now planning to launch its next range of smartwatches in November - December.
"We are going to launch another family of smartwatches in November - December during Diwali," Anupam Mathur, Head- Sales & Marketing told GizBot.
The IQ+ Move is the second generation of the Timex Connected Collection, the first being the Timex Metropolitan+, which was launched last year.
The Timex IQ+ Move looks like traditional watches with a regular analog round-shaped dial and leather straps. It can track all day activities such as steps, distance, calories, and sleep.
The TIMEX IQ+ Move comes in two styles - one variant has a Silver Tone Case, White Dial with Gold Tone Accents and Brown Leather Strap while the other comes with a Gray Silicone Strap and a Gray Finish Case, Black Dial with Blue Accents. The watches are water resistant to 50 meters.
On producing smartwatches in India, at the company's plant in Baddi Himachal Pradesh, he said,"we have a huge manufacturing plant in Baddi but as the volume gains traction in India for smartwatches we will set up the manufacturing plant. " Adding that we are producing two million watches in our plant.
He said, "currently all smartwatches are imported from our factory in the Philippines."
"Major revenue comes from West, South, and North where the adoption of smartwatches is the highest," Anupam replied when asked about from which part of the country, they are getting more revenue.
Meanwhile, the company is also expecting 30 percent sales from watches with smart features by 2020, PTI reported.
According to a report, Anupam says "Consumers are evolving and their needs are changing... even from a traditional watch perspective, our customers will want a watch which is analog but has some smart features. By 2020, at least 30 percent of our sales will come from watches with smart features."
The company, which had reported a turnover of Rs 135 crore in 2015-16, is aiming at 20 per cent year-on-year growth, Mathur said.