Casio Computer Co. Ltd., maker of G-Shock watches, is targeting the middle-class market with high-end electronic watches priced at over HK$10,000 each.
The company has long been in the mass market selling plastic watches for US$100 to US$150 each.
But Hiroshi Nakamura, Casio head of sales, told the Hong Kong Economic Journal that the swelling ranks of the middle class provide a favorable condition for the company to enter the high-end market segment.
Casio is poised to expand its presence in mainland China, Southeast Asia and the Middle East. Its largest G-Shock store opened in Shanghai in June.
It is also working to enhance product functions and technology to increase consumer interest.
Nakamura said the company will launch a smart watch model next year with style and user-friendly features that differentiate it from Apple Watch.
Casio has recently launched its Oceanus series which is equipped with GPS timing system that can be synchronized with a smartphone.