Headquartered in Beijing, China, and Morrisville, North Carolina, the Lenovo Group Ltd., is looking to raise its share in the India market three times over. Since last year, when the firm started selling its wearables HW02 fitness band and HX03W cardio smartband through e-commerce sites in India, it achieved a 6-7 percent of the market share of smart wearables in the country.
The company is now planning to start manufacturing in India, where the smart wearables market is expected to grow 30-40 percent this year, said Sebastian Peng, head of accessories at Lenovo Mobile Business Group. Additionally, the company will establish a physical retail network starting with major Indian cities. Once manufacturing is launched, Peng said the company will consider India as an export hub for wearables.
