How Lenovo will help boost this PM Modi scheme

Lenovo Group is looking to make smart wearables in India and raise its share of the local market by threefold, in a plan that will help boost Prime Minister Modi’s scheme to promote the country as an electronics manufacturing hub. The company is targeting to corner by this year a 20% share of India’s market for wearables, such as smartwatches and fitness bands, Sebastian Peng, head of accessories at Lenovo Mobile Business Group, said. Since the firm started selling its wearables in India last year, the company has achieved 6-7% of the market share of smart wearables in the country, he said.

The company is now planning to start manufacturing in India, where the smart wearables market is expected to grow 30-40% this year, Peng added. Lenovo currently makes its wearable products in China. “We have started talks with local manufacturers to start manufacturing within the country. We’re trying to start these operations sometime this year,” Peng said.

Lenovo has already partnered with homegrown e-commerce firm Flipkart to sell wearables on its platform, said Naveen Bajaj, India head at Shenzhen Aodishi Technology, which is Lenovo’s authorised overseas accessories distributor.
Lenovo, which also makes products ranging from smartphones to laptops, will expand its wearable offerings on other e-commerce portals, such as Amazon.com.