South Korea's Samsung Watch Corporation on Friday launched its range of watches in the domestic market and said it plans to set up a manufacturing plant after two years to cater to growing demand for such products in the country.
Addressing a press conference in New Delhi, Douglas Chung, executive director (export division), said the company has targeted to sell 100,000 watches this year, 300,000 units in 2004 and 500,000 in 2005.
"If the volumes are up, we can consider assembling our watches here (in India). If we sell over 500,000 watches in 2005, then we can set up an assembly plant," Chung said, adding that the watches were currently imported from Korea.
Samsung Watch Corp has tied up with IMS Teletime to distribute 200 differ models through exclusive and multi-brand outlets. The watches have been priced at around Rs 2,500 to Rs 6,500 for analog, and Rs 1,000 to Rs 2,500 for digital watches.
Chung said high-end diamond, gold and tungsten watches would also be introduced in the country depending upon the market response.
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