Top Section
Explore Business Standard
Don’t miss the latest developments in business and finance.
Smart devices and accessories maker Gizmore is planning to scale up production of smartwatches by about two and half times to 15 lakh per annum, as it looks to generate business of around Rs 200 crore in the next financial year, a top official of the company said. Gizmore CEO and Co-Founder, Sanjay Kalirona told PTI that the company at present makes around 50 thousand smartwatches per month (six lakh per annum) in India and is going to scale up the production to around 15 lakh smartwatches in the next financial year. "Smartwatches are the fastest growing segment for us. It now accounts for 60 per cent of our business. We expect to close this fiscal with around 40-50 per cent growth. In the next fiscal, we are targeting 100 per cent growth and over Rs 200 crore business to come from smartwatches alone," he said. The company expects to close the current fiscal with revenue of about Rs 75-80 crore comprising Rs 50 crore revenue from the sale of smartwatches. "We are expanding our reac