Noise, a manufacturer of wearable technology, announced plans to raise monthly local production of smartwatches to 10 lakh units per month starting in August. According to Noise co-founder Amit Khatri, the business has produced 10 lakh units of all of its products, including wireless audio devices overall and smartwatches, to date.
Leading Smartwatch Brand
They are the market leader in the nation for smartwatches, according to Khatri. They currently rank among the top 6-7 smartwatch manufacturers worldwide.
They have already manufactured a million devices (including smartwatches and TWS) and starting in August, we plan to make a million smartwatches per month. Currently, 25% of all goods are made in-house, including TWS (True Wireless Stereo) and smartwatches.
According to Khatri, the business intends to expand the proportion of domestically produced TWS and smartwatches in its overall sales to 80%. In the upcoming fiscal year, Noise expects to more than quadruple its sales, which were roughly Rs 850 crore last year.
Optiemus Electronics currently manufactures Noise’s products, but Noise plans to collaborate with additional electronics manufacturing service providers to increase local production of its goods. According to Khatri, the business intends to boost its monthly production capacity in India to 20 lakh units.
Noise Performance in the Market
IDC, a market research company, reported that Noise led the list of smartwatch brands in India with a 23% market share in the January–March 2022 quarter. Noise also held the second position in the TWS segment with an 8% market share.
As per Khatri, they intend to reach a 15% market share for TWS in the following two quarters. But right now, the main priority is to increase smartwatch manufacture in India.
He claimed that Noise as an organization is expanding tremendously and that for now, developing a solid team is the priority, followed by increasing investment in health research and development. According to Khatri, they currently employ close to 300 people and plan to increase that number to 500 by the end of the next year.
Noise states that 70% of its customers are between the ages of 18 and 35, and as a result, it emphasizes lifestyle as well as health-related topics. According to Khatri, they regularly reevaluate their methods to focus more on the health elements, but they also create a balance with the product’s design and functionality because that is what the target age group considers.