Asustek Computer expects its ZenFone smartphone shipments to reach eight million units globally in 2014 and 16-20 million units in 2015, while monthly shipments of its recently launched ZenWatch smartwatch will incease to 300,000-500,000 units in 2015 from the current volume of 50,000 units, according to sources familiar with Asustek's business targets.

Both ZenFone and ZenWatch are produced by Pegatron Technology, the sources added.

The sources pointed out that the ZenFone's R&D has been handled by a team composed of enghineers from the notebook department, while the ZenWatch was developed jointly by Asustek's notebook team and design center.