Gizmore smartwatches to be made by Optiemus Electronics

Gizmore has announced its partnership with Optiemus Electronics Limited (OEL) to manufacture around 1 million smartwatches in the next 12 months. The company said that it plans to sell over 1.5 million smartwatches in 2023-24 and capture a 5% market share in India.

For FY 2022-23, Gizmore said that it is looking to sell around 4 lakh smartwatches. The company said that it has set a target to grow its smartwatch business by four times from INR 50 crore in the current fiscal year to over INR 200 crore in 2023-24.

Under the partnership, Optiemus Electronics will be manufacturing close to 75% of the total volume of Gizmore in the country in the coming years. Gizmore said that products like Blaze Max, Vogue and other upcoming AMOLED smartwatches from Gizmore are planned to be manufactured with OEL.

Gizmore plans to focus on research and development to fuel the next growth phase. The brand plans to expand the reach of its software for smartwatches, namely, Tres Connect, built in association with Quadlabs Technologies. Gizmore has already launched two models – GizFit Slate and GizFit Ultra – integrating the Tres Connect app.

It plans to continue its R&D initiatives in the future to create a technologically-advanced ecosystem for its consumers.

Gizmore smartwatches are exclusively available on Flipkart along with several retail stores across India as well as

Regarding the partnership, Sanjay Kalirona, CEO and Co-Founder of Gizmore, said:

Consumers have shown immense faith in Gizmore. As a result of consumer trust, we have achieved encouraging growth numbers. We have introduced several new models in quick succession and created a strong base in the smartwatch segment. We sold over 40,000 smartwatches in October last year, i.e. during the festive season. In comparison, we are targeting sales of over 50,000 units every month from January onwards. We plan to continue to delight our customers by introducing several new product features. The overwhelming customer support and our consistent efforts will help ensure that we can capture a 5% market share in the Indian smartwatch industry by the end of next fiscal.

A. Gururaj, MD, Optiemus Electronics Ltd, said:

The production-linked incentive (PLI) scheme from the Government of India is beginning to transform the manufacturing ecosystem in the country. Our partnership with Gizmore is another step towards empowering India to play a critical role in global electronics manufacturing. With a young aspirational population, the smartwatch segment in India is expected to continue its growth run for at least the next few years. We are happy to partner with Gizmore and contribute to their growth journey.

Author: Srivatsan Sridhar

Srivatsan Sridhar is a Mobile Technology Enthusiast who is passionate about Mobile phones and Mobile apps. He uses the phones he reviews as his main phone. You can follow him on Twitter and Instagram