Noise is planning to expand its share of local manufacturing in India. Its product line accounts for 25% of locally produced products.
It is going to increase the share to 50%. It has been able to gain a lot of users in recent times. The main demand for its products is coming from Tier-2 and Tier-3 cities. It is planning to expand in these cities. It is also planning to expand its smart device portfolio for its users.
The demand for wearables has increased in recent times. The pandemic has been pushing the demand for wearables. The main products of Noise in the market have been smartwatches and wireless earphones.
In the last quarter, Noise has shipped 1.4 million products. In the market, Noise accounts for around 11% of the market share overall. In its segment, the market leader is BoAt with a 22% market share.
It has been successful in increasing its shipments by 150% in the March quarter annually. It even reduced the price of earphones by 37% and watches by 31%.
The online market is also playing an important role. The online market accounts for 80% of the sales for Noise. The offline market, on the other hand, accounts for 20% of the sales. The offline market is also increasing at a steady pace. But comparatively, the online market is contributing and progressing more.
Noise has even started a tech incubator in its company. It is named Noise Labs. It will be used to create innovative products in the future.
Companies like Noise and many other wearable smart device manufacturers are trying to capture as much market share as they can. They are regularly launching new products to grab the consumer’s attention.
The new smart devices and innovations are also making it possible for such companies to gain even more attention. They are also gaining an advantage due to being local in their origin.
Noise is also planning to expand its workforce from 275 to 500. The increase in local manufacturing will help in increasing the job options. It will also help in giving more opportunities to the local equipment manufacturers who are not getting enough space in the market.
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