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boAt to scale down wearables business amid slowing growth, focus shifts to audio

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· 21d
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Indian audio and wearables startup boAt is downsizing its wearables business due to slowing growth and declining market share in a competitive market. The company's market share slipped to 14% in 2023, down from nearly 19% the previous year. boAt plans to focus on its audio products, which contribute more than 80% of its total revenue. CEO Sameer Mehta stated that the company will seek differentiation through innovation, partnering with MapMyIndia to offer maps on its smartwatches and working on features such as QR codes and smartwatch-enabled payments. boAt aims to have 50% of its products designed in-house in the next two years.

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somesh tripathi
somesh tripathiThe MVP Developer....

Just preparing themselves for the IPO

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0
21 days ago

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