“The biggest challenge in getting a manufacturing business off the ground is how do you sell it,” says David Cote, a business development expert who is co-chair of R2W’s board, “and there’s no way to guarantee success.”
In addition to high price-performance and the need to sell quickly, Cote sees a big opportunity to bring in smaller and more specialized items as well as higher-margin accessories such as the Apple Watch.
“To start a manufacturing business it’s always going to cost money,” Cote says. “What you want to do is create a business that can grow by making the product itself better and by using technology — making it very smart.”
So far, the company is getting good sales in China, but is also looking to get into other Asian markets, particularly India and South Korea, its headquarters being in Taiwan, according to Kukla R. Eide, president of R2W Asia Pacific.
“As the business grows, the need to scale up is going to become more important,” R2W Asia Pacific CEO Ken Eide says.
The company has also been looking for a bigger, more sophisticated location to build its manufacturing facility.
What other businesses are making smart watches?
While many other companies are making them, many of them are not taking advantage of the growing demand for these kinds of products.
That’s because these devices are far from being a luxury. When it comes to smart watches you can walk into most stores and see almost everything you need, from the color options to the charging options. The big issue, however, is that these products do not have a “watch” in their name.
“There is no sense to have a watch in the name of something you are not selling,” Eide says. “This is about the consumer and these are not luxury products. Many of these devices are low-quality. We don’t feel we can create smart watches because they are low quality and don’t have a lot of appeal.”
In addition, many companies have a hard time bringing more advanced smart watches to market. “They don’t want to get caught up in this whole ‘the market is shrinking.'”
As a result of these obstacles, the market for smart watches continues to grow, according to Eide. He believes that Samsung’s smart watch will start to see a major push in the coming months.
The New York Times on Tuesday published a
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