Noise has solidified its position as a leader in the smart wearables industry with a remarkable YoY growth of more than 100% in India. The company has announced that its revenue for FY’23 has exceeded Rs. 2000 crores, and it is determined to build on this achievement in the upcoming fiscal year.
Noise’s Growth and Product Diversification
By combining both volume and pricing growth, Noise expects to maintain a strong growth rate of over 70% in the next year. Noise said that it has experienced impressive growth in both smartwatches and TWS segments, with smartwatches contributing to 80% of its total growth.
The company has diversified its product portfolio with top smartwatch launches, including the Noise ColorFit Pro 4 in its flagship series, Noise Champ 2 in the children’s category, and Noise ColorFit Pulse 2 Max, among others. The TWS category also saw the launch of products like Noise Buds VS102, Noise AirBuds Mini, and Noise Buds VS104.
Noise Labs and Innovation
To strengthen its innovation efforts, Noise introduced Noise Labs, an in-house technological incubator that conceptualized and launched two marquee products: Noise i1, a smart eyewear, and Noise IntelliBuds, a gesture-controlled TWS.
Make in India
Noise remained steadfast in its Make in India initiatives throughout the year, with over 95% of its production happening in India. Additionally, Noise was 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.
Expansion and Strategic Alliances
In an effort to reach consumers wherever they are, Noise expanded its offline footprint to penetrate deeper into Bharat. The company maintained an 80:20 ratio for its online and offline channels nationwide and aspires to cultivate strategic alliances that will facilitate broader audience outreach.
Furthermore, the brand has reinforced its organizational growth strategic measures to augment its workforce, recording a current strength of over 400 employees.
Category Leadership and Recognition
Noise has been the leading smartwatch brand in India for three consecutive years. This reaffirms its position as a category leader, and it is also the only Indian brand to have been recognized as the 4th biggest wearable seller globally.