Thursday, August 25, 2016

Titan plans to introduce affordable smart watches

After the positive response to its first smart watch JUXT, which has already sold 10,000 units in India since its launch in end January, followed by the launch of its second smart watch, JUXT Pro two weeks ago, Titan is now working on making affordable smart watches for the mass market.
The company also plans to start exporting the JUXT Pro to Singapore, Malaysia and West Asia by next quarter.
Titan’s first smart watch – JUXT priced between ₹15,995 and ₹19,995 — received a “better than expected” response with the sale of 1,500 units in the first two weeks of the launch.
“We have sold out our first lot of 10,000 units of JUXT, which is an analogue watch with limited smart features. JUXT Pro, our second smart watch priced at ₹22,995 with fully loaded features, launched two weeks ago and targeted at the 25-35 year old male consumer is now available for sale in over 100 World of Titan, Helios and large format stores, on the Titan website and exclusively on Flipkart,” said S Ravi Kant, CEO, Watches and Accessories, Titan Company. He said the company is working on making smart watches more affordable for the mass market.
Although a late entry into the smart watch market in India, Ravi Kant says Titan smart watches can hold its own in terms of price points and unique features.
“According to the IDC data, global sales of smart watches was 3.5 million units in Q2 2016, which is 32 per cent lower compared to last year, mainly because of falling sales of leader’s (Apple) share of category which fell to 1.6 million units. However, the other players gained market share. We expect a positive response to JUXT Pro from our target consumer,” he said.
A research conducted by Titan revealed two kinds of smart watch customers – one set of customers who are aware of smart watches and want good looking smart watches without too many features.
The other set of younger customers who are into fitness, are always connected, want entertainment on the go, wanted smart watches with fully loaded features.
“With JUXT and JUXT Pro we are catering to both types of customers,” said Kant.

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