On Tuesday, Noise, a prominent Indian brand specializing in electronic devices, announced a strategic joint venture with Il Jin Electronics, a subsidiary of Amber Enterprises India. This collaboration is geared towards significantly enhancing the manufacturing of smart wearables within the country.
Currently, Noise manufactures over 95 percent of its products within India, positioning itself as a pioneer in localizing component manufacturing. This new joint venture is set to further boost the growth of the entire smart wearable ecosystem, creating a ripple effect across the industry.
The recent Canalys report indicates that Noise has shipped 3.5 million wearable devices during the second quarter of 2023 grabbing 8 percent share in the global wearable market.
Canalys said brands such as Noise introduced entry-level models while launching some higher-priced products. Fire-Boltt has further cut prices, offering consumers exceptional value with an average selling price below US$19.
Amit Khatri, Co-founder of Noise, expressed enthusiasm about the collaboration, emphasizing its potential to elevate domestic manufacturing, facilitate category expansion, and stimulate growth across the entire ecosystem.
According to Counterpoint Research, Noise has emerged as a formidable global player, experiencing an impressive 86 percent year-on-year growth in the second quarter of this year. The majority of Noise’s product offerings, a significant 98 percent of total shipments, are priced under $50. Furthermore, Noise has solidified its position among the top 3 smartwatch brands globally, as per Counterpoint.
Jasbir Singh, Chairman, and CEO of Amber Enterprises India, conveyed his enthusiasm about the partnership and its broader implications. He stated, “Through this partnership, we look forward to creating a world-class local ecosystem for wearables and other smart electronic products, contributing further to the larger ‘Make in India’ initiative.”
This partnership represents a significant step forward in bolstering the ‘Make in India’ initiative, reinforcing India’s position in the global smart wearables market, and fostering a thriving domestic manufacturing ecosystem.
