The bullishness of the Cupertinobased company comes from initial market studies that show the Apple Watch has the potential to become a bestseller in India, after iPhones and iPads.
Apple also proposes to engage Indian developers to create apps for the device and is firming up the launch, according to two senior executives aware of the company's plans for India.
"Apple is bullish about the success of the Apple Watch in India since it already has a base of more than 4 million iPhone and iPad users who are initially the potential target," said one of the executives.
An Apple spokesman said the Apple Watch will be launched globally in early 2015 and there is no further update. As per estimates, the price of the Apple Watch will be about Rs 28,000-35,000, which will be more than the cost of wearable products sold by rivals Samsung and Sony. The device will be compatible with the iPhone 5, 5c, 5s, 6 and 6 Plus, which run the latest operating system.
"At such a price point and limited reach only to latest iPhone users, the volume uptake will surely be small, but the Apple Watch launch will boost the awareness of smart wearables as a product category and make it a buzzword in India like Apple iPad did to tablets as a product category four years ago," said Counterpoint Research senior analyst (devices and ecosystem) Tarun Pathak.
According to Counterpoint Research, the wearable market in India is still very small, at 1 lakh units this calendar year, but Apple Watch is expected to give it a boost next year, when it is expected to grow five times. The researcher expects several new vendors will launch affordable smart wearable products next year. PlanetM Retail chief executive officer Sanjay Karwa expects the Apple Watch to give a boost to the market, which has become subdued after Diwali.
"A new gadget like Apple Watch will get traction by virtue of its loyal customer base which is now a sizeable number in India," he said. Apple last week rolled out the software that will help developers to come up with new apps for the Apple Watch. The company is hopeful the Indian base of developers will roll out local apps to expand the appeal of the device in the domestic market.
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