HIGHLIGHTS
● Indian company Lava gave competition to a Chinese company by launching the cheapest 5G smartphone
● Chinese brands are battered in competition with Indian companies in the wearable market
● boAt, Noise, and Fire Boltt beat Chinese companies by launching affordable products
Indian brands are giving fierce competition to Chinese companies with challenges in 2023, all our eyes will be on Indian smartphone and wearable companies. In the year 2022, the Indian mobile phone company Lava exploded by launching the lowest-priced 5G smartphone. While Chinese companies dominate the Indian smartphone market, Indian companies are ruling the wearables market. Today we are giving you information about Indian brands, which have great expectations in the year 2023.
Big expectations from Lava
Indian companies died long ago amid the growing network and strong presence of Chinese companies in the Indian smartphone market. It is pleasant that in the year 2022, Lava has tried to give strong competition to Chinese companies. The company made a lot of headlines by launching Lava Blaze 5G smartphone, this phone was the first smartphone to come with 5G connectivity support at the lowest price.
Lava has created wrinkles on the forehead of Chinese companies in the year 2022. In such a situation, we all expect some such explosions from Lava in the year 2023. What Lava will do in 2023 or not, this is the hot future but there are a lot of expectations from Indian companies in the wearable market. In the year 2022, Indian companies did not give a chance to Chinese companies to raise their heads in the wearable segment. Cell reports say something similar.
The Threat of Indian brands in the wearable market
Indian brands have troubled Chinese companies a lot in the wearable market. According to cell reports, companies like Boat, Noise, and Fire-Bolt alone have a share of 54.8 percent in the Indian market. Indian company BoAt topped in this matter. The company's market share in the Indian wearables market was 32.1 percent and the company's year-on-year growth was 19.5 percent.
Noise's sub-brand Nexxbase came in second. The company's share in the wearable market stood at 13.8 percent. At the same time, another Indian company Fire-Boltt stood at the third position with an 8.9 percent share in this market. These figures are till November 2022.
boAt
The BoAt continued to be recognized for sound devices, but the company's wearables are also being liked by Indians. Wearables also include fitness trackers with earbuds. In the last few years, the company has created its trustworthy image and has defeated the Chinese companies in the Indian market. He is expected to maintain this charm in the year 2023 as well.
Noise
Noise has strengthened its hold in the Indian market in terms of smartwatches. The products of the company are well-liked by the people. The main reason for this is the affordable price and the latest trending features. As a result of the company's marketing skills, Noise has strengthened its position by launching devices at low prices and presenting its strong claim, along with fiercely competing with Chinese companies.
Fire-Boltt
Indian company Fire-Boltt is in the third position in the wearable market. The company has been launching smartwatches and earbuds. Like Noise and Boat, Fire-Bolt has also stayed in the market by launching products with the latest features at low prices and has given competition to Chinese companies in this segment.
Like the year 2022, in 2023 also expect Indian companies like Lava, BoAt, Noise, and Fire Boltt. In 2023, companies will face new challenges and opportunities. Now it has to be seen what will be the strategy of the companies.
Challenges and Opportunities
The challenge before Indian companies is only and only Chinese companies. In the last few years, these companies have fiercely fought with Chinese companies. Some companies lost their morale in this race but some remained in the race. But in the year 2023, Indian companies also have many opportunities. Increasing demand and the increasing difficulty of Chinese brands in the supply chain in the global market can also become opportunities for Indian companies.
5G services are slowly spreading in India. In such a situation, the trend of smart devices will increase among Indian users. Indian companies should also keep an eye on this and emphasize the launch of new devices. At the same time, the new wave of Corona in China has had a bad impact on manufacturing there. In such a situation, Indian companies can emphasize
strengthening their position in the race by increasing production and launching new devices.
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