In order to make mobile phones in India, large companies selling wearables have begun expanding local manufacturing to improve profits, gain more control over supply chains, and reduce their reliance on Chinese imports.
Optiemus Electronics, a Noida-based company that has been approved to participate in the government’s production-linked incentive (PLI) scheme for mobile phones, has begun producing “dozens” of hearable and wearable products.
Noise, a brand owned by Nexxbase Marketing Pvt. Ltd, leads the wearable market in India, according to International Data Corporation (IDC), with a 26 percent share of shipments in Q3CY21.
True wireless (TWS) headphones, which fit in a person’s ear and connect to phones via bluetooth, are part of the wearables market.
Noise intend to concentrate on a larger portfolio of products that we can manufacture in India.They plan to design and manufacture TWS in India with Optiemus Electronics in the beginning, Noise co-founder Amit Khatri stated. The company intends to make significant investments next year to go local.
Third manufacturing plant of Optiemus in India is opening and will be operational in the next four to five months.
Local demand for wearables has skyrocketed after the pandemic. IDC’s latest data indicates that India’s wearable market had an increase of 93.8% year-on-year (y-o-y) in Q3CY21.
A total of 23.8 million units of wearables were shipped during the quarter of this year. The post-pandemic boom in the segment has also propelled Indian brands such as boAt propelled into the list of the top five global wearables as a result of the post-pandemic boom in the segment.
BoAt, which is reportedly preparing for an IPO worth $3500 crore, has begun manufacturing several of its wearables in India. This year, it opened a new research and development centre in Bengaluru.
The pandemic allowed companies to manufacture internally, and now companies are trying to establish themselves as a make in India brand.
New brands have also entered the market as a result of this. Ambrane, which is best known in India for selling power banks, plans to enter the smartwatch market in 2022. Ambrane India’s MD, Ashok Rajpal, said that they will relocate in the next two to three months to a new facility near Delhi.
The new facility of Ambrane will have three times the capacity of the existing plant, which can produce 500,000 units per month.”
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