Boult Audio expects growth in revenue
The Company’s overall audio category business grew by over 30 per cent but the smartwatch category is growing in triple digits
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New Delhi Smart wearable device maker Boult Audio expects 100 per cent growth in revenue to Rs 1,000 crore this fiscal on the back of expansion in sales channels and growth in the smartwatches category, a top company official said.
Boult Audio Founder and CEO Varun Gupta told that its overall audio category business grew by over 30 per cent but the smartwatch category is growing in triple digits. "We are expecting 100 per cent growth. We are planning to get offline and go further, deeper into online marketplaces. We are scaling up our D2C platform which means retailing on our own website. Smartwatch is a category which is exploding and growing at a triple-digit number. That gives us an impetus and push to launch our brands in this category," Gupta said. The company's business grew about 66 per cent in 2022-23 to around Rs 500 crore and it expects revenue to grow to Rs 1,000 crore with a four-fold jump in sales of smartwatches.
Gupta said that in 2021-22, its entire revenue came from audio devices. The company forayed into the smartwatch business in the second half of 2022-23 which contributed around 20 per cent to the overall business worth Rs 500 crore.
