Noise reports over Rs 2,000 crore revenue in FY23 with 100% growth YoY

Homegrown consumer wearable company Noise on Friday said it clocked over Rs 2,000 crore in revenue in FY23 with a record growth of over 100 per cent (year-on-year).

Noise maintained its leadership in the smart wearables industry and is aiming to double down further in the next fiscal year.

The company, with 400 employees, is projected to sustain a robust growth momentum of over 70 per cent next year, through a combination of volume and pricing growth.

Over 95 per cent of its production is happening in India.

"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," said the company.

According to latest IDC numbers, Nexxbase (Noise) stood third in overall wearables, growing by 97.3 per cent YoY and 11.9 per cent market share in India.

Noise was at second place in the smartwatch category with 21.6 per cent share, growing by 157.6 per cent YoY.

"Noise Colorfit Icon Buzz, Colorfit Icon 2 and Colorfit Pulse Go Buzz contributed to more than 25 per cent of its shipments," said the IDC report.

The company said it maintained an 80:20 ratio for its online and offline channels nationwide and further aspires to "cultivate strategic alliances that will facilitate broader audience outreach".

--IANS

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