Indian wearable brand NOISE breaks into global smartwatch sellers
Local consumer electronics company and Indian wearable brand NOISE, which earlier this year was in acquisition negotiations with the Tata Group, has risen to become the fourth-largest wearables seller internationally. According to predictions from Canalys, Noise only lagged behind Apple, Samsung, and Huawei in terms of overall wearable shipments and market share in Q2 2022. 1.8 million units were shipped during the quarter, giving the brand a 5.8% global market share. The Gurgaon-based startup, which began selling wearables in 2017, recorded the largest year-over-year increase in shipments at 382% among all brands. With a 29% market share in the domestic market, Noise led Fire-Boltt and boAt, which each took 25% and 20% of the market, in the second quarter.
“The milestone is a testament to the evolving acceptance of homegrown brands on a global scale,” Noise cofounders Amit Khatri and Gaurav Khatri said in a statement to Business Today. “As we move forward, we are bullish about replicating India’s foothold in the global ecosystem. Noise is apparently lucrative despite being bootstrapped up to being courted by Titan Company. As of December 31, 2020, it has $43 million in annual revenues, according to Tracxn. Although the Tata sale has not yet been formally announced, according to Crunchbase, Titan Company purchased Noise in March 2022 for an undisclosed sum.
According to Canalys, Noise, Fire-Boltt, and boAt worked together to push India’s wearable market share to an all-time high of 15% in Q2 2022. India was the third-largest smartwatch market in the world, behind China and the US, with shipments of 6.3 million devices. The local kings, Noise, Fire-Boltt, and boAt, have discovered a successful recipe to fast reach a quarterly shipment volume of more than a million units, according to Ashweej Aithal, Analyst, Canalys. Vendors can meet the existing demand with the aid of high affordability and attractive designs targeted at young, educated consumers.
Indian wearable brand NOISE
India Leads Market for Simple Watches According to Canalys, basic watches were the “performance highlight” of the quarter, driving an astonishing shipment growth of 275% in the wearable band market in India. India’s rise was powered by the basic watch boom, which accounted for 91% of all wearable band shipments in the nation. With 5.7 million pieces supplied, it also elevated India to the position of largest basic watch market in the world (beating China).
But for customers to profit from devices and health features, Aithal noted that they frequently need to engage with them more deeply. “Users will soon seek out better gadgets and health features, like more accurate tracking and better health indicators. To avoid disappointing users and maintain growth, vendors must account for this change in consumer needs.
Apple Remains the Leader in Wearables Global shipments of wearable bands increased by 2% to 41.7 million units in Q2 2022, resuming growth after falling by 3.7% in Q1. Basic watches and smartwatches experienced second-quarter growth of 46.6% and 9.3%, respectively. Apple maintained its global dominance in the wearables market with a 26.4% share and 8.4 million quarterly shipments. Samsung shipped 2.8 million smartwatches in Q2 2022, surpassing Huawei with a rise of 58%. According to Canalys Analyst Cynthia Chen, “Samsung is leading in the Android industry in using its timepieces to strengthen its premium ecosystem user experience.” The newest products from Samsung and Garmin, as well as anticipated Apple releases.