We at Optiemus are constantly working towards contributing to India’s efforts to become a major electronics manufacturing hub globally. 2022 was a major boost for the electronics industry with schemes like production linked incentive (PLI) scheme and phased manufacturing program pushing indigenous manufacturing in mobile phones, hearables/wearables and other categories. The hearable/wearable industry in India recorded 171 per cent on year-on-year (Y-o-Y) basis growth in smartwatches, to become the biggest smartwatch market in the world. Optiemus has been at the forefront of this phenomenal journey of the hearable/wearable industry and has partnered with major lifestyle brands like Noise, HARMAN, DIZO, Truke, Wings to manufacture their products from the two existing state-of-the-art manufacturing facilities located in Noida, Uttar Pradesh.
With our efforts in the hearable/wearable segment, we also achieved the successful record production of “1 million wearables and hearables” in a month at our manufacturing plants. Under the visionary leadership of our Prime Minister Narendra Modi, India has made significant progress in electronics manufacturing this year and initiatives like phased manufacturing programme introduced for hearable/wearable in the Union Budget 2022 helped immensely to fuel the growth.
Our partner, Wistron is providing active support to create world-class processes in the manufacturing operations and Optiemus is working with leading multinational companies for multiple segments of business to move towards volume production of their products. In 2023, we will diversify our efforts into various segments like IT hardware and telecom equipment manufacturing as well. Also, OEL now has the installed capacity to manufacture 800,000 smartphones in a month and is in the advanced stage of discussions with key global brands.
As the country is witnessing a wider rollout of 5G services, we are actively expanding our capabilities in 5G telecom equipment and have partnered with leading companies to supply 5G products. We also aim to strengthen the IT hardware segment by expanding laptop manufacturing and starting new categories like mini pc, etc. Adding on to that, we have plans to enter emerging categories like internet of things (IoT) and electric vehicle (EV) as India adopts new technologies.
On the expansion front furthermore, Optiemus is all set to open its third state-of-the-art manufacturing facility in Noida with a capacity for high volume manufacturing of wearables and other products units which will further strengthen our manufacturing capabilities. The electronics industry is set for the next wave of revolution in the coming year and 2023 can be the major milestone year in our aim to make further progress towards realising “Atmanirbhar Bharat” in electronics.