Noise, a domestic manufacturer of consumer wearables, has announced that it has achieved over Rs 2,000 crore in revenue in FY23, with a remarkable year-on-year growth rate of more than 100%. Additionally, it has been reported that over 95% of Noise production takes place within India.
With 400 employees, Noise continues to lead the smart wearables industry and plans to increase its efforts in the upcoming fiscal year. The company is expected to maintain its strong growth trajectory of over 70% next year by combining volume and pricing growth strategies.
The company further said, "Furthermore, Noise was also the first homegrown brand to ship over 3 million made-in-India smartwatches, reaffirming its commitment to leading the country's vision of making India a global manufacturing hub."
According to the most recent IDC figures, Nexxbase (Noise) secured the third position in the overall wearables market, with a growth rate of 97.3% year-on-year and an 11.9% market share in India. Furthermore, in the smartwatch category, Noise held the second spot with a 21.6% market share and a staggering year-on-year growth rate of 157.6%.
As per IANS, the IDC report said, "Noise Colorfit Icon Buzz, Colorfit Icon 2 and Colorfit Pulse Go Buzz contributed to more than 25 per cent of its shipments.”
Noise also revealed that it has maintained an 80:20 ratio for its online and offline channels throughout the country. In addition, the company aims to establish strategic partnerships to expand its audience outreach even further.
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Inputs from IANS
