Cementing its market leadership in the Indian Smartwatch industry, Noise, India’s leading connected lifestyle tech brand, has emerged as a leader in the space yet again with a whopping market share of 29.5%, recording a growth of over 200% YoY according to the latest IDC India Monthly Wearable Device Tracker (Q3 2022). Reiterating the success of the ninth quarter, the brand highlights their sustained leadership and echoes #ShorRukegaNahi even louder.
Noise recorded an astounding YoY% growth of over 200%, reaffirming its leadership in the segment that is primarily led by global brands. With consumer centricity and meaningful innovation at its core, the brand has grown exponentially owing to its high-quality, smart, affordable, efficient, and stylish range of products, with “Colorfit Caliber” and “Colorfit Icon Buzz” accounting for over 30% of its overall shipments.
Reacting to the milestone, Noise Co-founders, Gaurav Khatri and Amit Khatri, said, “Not just one, but nine times! We are not only proud but also thrilled to see the love our users have bestowed upon us. Being India’s leading bootstrapped brand, understanding the core needs of our customers and lacing them with purpose-led innovation has driven us to make the right noise. With this new milestone, we will continue to deliver the best to our consumers as we pledge #ShorRukegaNahi to only grow louder, stronger, and bigger from here on.”
The report highlights that the overall industry grew by 56.4% in the quarter led by the festive season coupled with an increased demand for smart wearable devices. The heavy discounts and offers rolled out during online sales resulted in a 13.6% YoY decline in average selling price (ASP) IN Q3 22. Noise alone recorded a growth of over 200% this festive season, selling over 2 million smartwatches.
Brands scaling up local manufacturing in partnership with Indian ODMs is another trigger that would lead to 30%+ “Made in India” units by the end of 2022, as per the IDC tracker.
