Wearable and hearable device maker Noise is planning to increase monthly local production of smartwatches to 10 lakh units per month from August.
The company has produced 10 lakh units of its all products, including total wireless audio devices and smartwatches to date, Amit Khatri, Co-Founder, Noise said. "We are the leading smartwatch category in the country. We are part of the top 6-7 smartwatch brands in the world now. We have already produced a million units till now (including smartwatches and TWS) and from this August we aim at producing a million units per month of smartwatches," Khatri stated.
At present, indigenously manufactured products both TWS (True Wireless Stereo) and smartwatches account for 25 percent of the total. Khatri said that the company plans to increase the share of locally made TWS and smartwatches to 80 percent of the company's total sales.
Noise had recorded a revenue of around Rs 850 crore and plans to more than double its revenue to Rs 2,000 crore in the current financial year. Noise at present gets its products manufactured at Optiemus Electronics and is planning to partner with some more electronics manufacturing service providers to enhance local production of its products.
Khatri said that the company plans to increase the production capacity in India to 20 lakh units per month. According to market research firm IDC, Noise topped the chart among smartwatch brands in India with 23 percent market share in the January-March 2022 quarter and occupied the second spot in the TWS segment with 8 percent market share.
"We aim to close at 15 percent market share for TWS in the next 2 quarters. But currently, our primary focus is on ramping up manufacturing for smartwatches in India," Khatri said. He said that as an organization, Noise is growing significantly, and building a strong team is the key focus right now followed by more investment in research and development in health.
"We currently have close to 300 employees and we aim to reach 500 employee strength by next year," Khatri said. Noise claims to have 70 percent of consumers in the age group of 18 to 35 and hence it focuses on lifestyle along with health angle.
"While we constantly revamp our strategies to go deeper into the health features, we also strike a balance with the aesthetic and the ergonomics of the product as that is what the age group considers," Khatri said.