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After UAE, Noise Announces Expansion to UK, EU Amid Slowdown in India's Wearables Market
OutlookIndia
·
4m ago
Medial
Noise, a wearable device brand, is expanding into the UK and EU markets amid a slowdown in India's wearables sector. Partnering with luxury retailers like Selfridges and Printemps, Noise aims to increase global accessibility to Indian-made wearables. Despite the sluggish Indian market and declining smartwatch sales, Noise's co-founder, Gaurav Khatri, emphasizes a strategic and careful overseas expansion. The company has also faced financial challenges, posting losses in FY24 after previous growth.
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Wearables brand Noise raises $20 million from Bose Corp
Economic Times
·
4m ago
Medial
Homegrown wearables brand Noise raised $20 million from Bose Corporation, marking their second funding round since inception. Previously, Bose invested $10 million in 2023, valuing Noise at around $420 million. Despite a reported net loss of Rs 20 crore in FY24, Bose reinvested to help Noise scale and innovate. The brand, leading in the smartwatch category, contends with competitors like Boat and Boult amid a slowdown in India's wearable device shipments.
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Noise valuation stands at $460 Mn after $10 Mn funding from Bose
Entrackr
·
1y ago
Medial
Gadgets and wearables brand Noise has secured $10 million in strategic funding from audio giant Bose, marking its first-ever raise after a decade. Regulatory filings reveal that Noise issued 2,400 Series A convertible preference shares at an issue price of INR 3,45,833 ($4,610) per share, resulting in a post-money valuation of around $460 million. Following this investment, Bose Corporation now holds a 2.17% stake in Noise, while founder Amit Khatri's stake has been diluted to 53.44%. Noise, known for its smartwatches and wireless earphones, has a 27.6% market share in the smartwatch category in H1 2023.
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India to come out stronger rather than weaker in current trade challenges, says Arvind Panagariya
Business Today
·
3m ago
Medial
Arvind Panagariya, Chairman of the 16th Finance Commission, is optimistic about India's future amid trade challenges. He believes trade agreements with the US and EU will position India advantageously in a 'China Plus One' scenario. With US-China tensions likely to continue, Panagariya foresees India benefiting from successful free trade negotiations with the US, EU, and UK by the year's end, enhancing India's global trade influence and economic prospects.
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Piyush Goyal to meet exporters on June 30 amid global tensions
Economic Times
·
1m ago
Medial
Commerce and Industry Minister Piyush Goyal is set to meet exporters on June 30 to address India's export challenges amid global tensions, particularly in West Asia. The meeting aims to ensure continuity and stability in trade routes and prepare for upcoming trade agreements, including with the US, UK, and EU. With India's export targets ambitious, this meeting is crucial for strategizing amid global geopolitical shifts and securing sectors like textiles from potential tariffs.
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Wearables brand Noise posts loss in FY24, revenue growth flat amid slump in sector
Economic Times
·
8m ago
Medial
Indian wearables maker, Noise, reported a net loss of Rs 20 crore in the fiscal year 2023-24, compared to a net profit of Rs 88 lakh in the previous year. The company experienced muted revenue growth and higher costs, leading to the loss. Despite this, operating revenue remained stable at Rs 1,430 crore. Noise's expenses increased to Rs 1,460 crore, from Rs 1,432 crore in the previous year. The wearables market in India has been impacted by a consumption slump, affecting companies like Noise, Boat, and Boult.
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Smartwatch shipments plunged 30% in 2024: Report
Economic Times
·
5m ago
Medial
Smartwatch shipments in India experienced a significant 30% decline in 2024 after years of growth, primarily due to limited innovation in affordable models and unsatisfactory initial purchases, according to Counterpoint Research. Market leaders like Noise, Fire-Boltt, and Boat are shifting focus to premium segments, while kids’ smartwatches saw significant growth. The slowdown has impacted financials, with companies like Noise reporting losses. Established brands are moving towards higher-priced, feature-rich segments to maintain margins.
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Wearables brand Boat's shareholders clear IPO plan; company to raise Rs 500 crore in fresh capital
Economic Times
·
5m ago
Medial
India’s leading wearables brand, Boat, plans to file an IPO prospectus after shareholder approval, aiming to raise Rs 500 crore in fresh capital. This move follows its halted 2022 IPO attempt. Parent company, Imagine Marketing, received shareholder approval for the IPO plan. Boat's total IPO size may range Rs 2,000-2,500 crore, contingent on market conditions. Despite economic pressures and a 5% revenue decline, Boat retains a 25.7% market share in India's wearables market.
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The Micromax trap: Why Noise, Fire-Boltt, boAt, and Boult need smart manoeuvres
Livemint
·
11m ago
Medial
The demand for smartwatches in India has declined, causing a slowdown in the wearables sector. The sudden change caught the industry off guard, leaving a significant inventory. The decline is led by smartwatches, which saw a 27% decrease in sales. Factors contributing to the decline include fatigue among users, the need for frequent charging, and competition from cheaper knock-off brands. Indian startups, such as boAt, Noise, Boult, and Fire-Boltt, are facing challenges in adapting to the new reality and must find ways to address the competition and maintain customer interest.
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India to focus on robust pacts with developed nations: Piyush Goyal
Economic Times
·
1m ago
Medial
India aims to forge robust trade agreements with developed countries, focusing on collaboration rather than competition, according to Commerce Minister Piyush Goyal. India has initiated free trade agreements (FTAs) with the UK and deals with Australia, the UAE, and European Free Trade Association, while discussions continue with the US and EU. The move shifts focus from ASEAN agreements, aiming to prevent indirect market access for competitors, and enhances trade ties with nations like Chile, Peru, and Gulf region countries.
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India, the world's largest smartwatch market, is getting new smart rings
TechCrunch
·
1y ago
Medial
Indian manufacturers BoAt and Noise, known for their affordable wearable devices, are entering the smart ring market to cater to consumers interested in health and sleep tracking but less focused on traditional smartwatches. Despite the popularity of wrist-worn wearables in India, smart rings are a relatively new category with potential for growth. BoAt and Noise, dominant players in the wearable market, aim to provide precise health and sleep tracking through their smart rings, targeting different customer segments. The move is expected to inspire more wearable brands to explore the smart ring category.
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