Noise plans to make one million smartwatches per month


By CNBCTV18.COM IST (Released)

mini

Noise has recorded revenue of around Rs 850 crore and expects to more than double its revenue to Rs 2,000 crore in the current financial year.

Wearable and hearing device maker Noise plans to increase monthly local production of smartwatches to one million units per month from August, co-founder Amit Khatri said.

He said the company has produced one million units of all its products so far, including wireless audio devices and smartwatches.

“We are the leading smartwatch category in the country. We are now among the top 6-7 smartwatch brands in the world. We have already produced one million units so far (including smartwatches and True Wireless Stereo), and from August we aim to produce one million units of smartwatches per month,” said Khatri.

Currently, locally produced products, both TWS (True Wireless Stereo) and smartwatch, account for 25% of the total.

Khatri said the company plans to increase the share of locally made TWS and smartwatches to 80% of the company’s total sales. Noise has recorded revenue of around Rs 850 crore and expects to more than double its revenue to Rs 2,000 crore in the current financial year.

Currently, Noise has its products manufactured at Optiemus Electronics and plans to partner with other electronics manufacturing service providers to enhance local production of its products. Khatri said the company plans to increase production capacity in India to 2 million units per month.

According to market research firm IDC, Noise leads the ranking of smartwatch brands in India with 23% market share in the January-March quarter of 2022 and ranks second in the TWS segment with 8% market share. market share. “Our goal is to close at 15% market share for TWS over the next two quarters. But currently our main focus is on accelerating smartwatch manufacturing in India,” Khatri said.

He said that as an organization, Noise is experiencing significant growth and that building a strong team is the primary focus right now, followed by more investment in research and development in the field of health. “We currently have nearly 300 employees and we aim to reach 500 employees by next year,” Khatri said.

The noise claims to have 70% of consumers in the 18-35 age bracket, it focuses on lifestyle and health aspects. “As we constantly revamp our strategies to dig deeper into health features, we also strike a balance with the aesthetics and ergonomics of the product, as that is what the age group considers,” Khatri said.

.


cnbctv18-forexlive-benzinga

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
Back to top button