Published
Apr 11, 2023
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BeatXP targets 10 percent market share in smartwatch segment

Published
Apr 11, 2023

Gururam-based smart wearables brand BeatXP is eyeing a 10 percent market share in the country’s smartwatch segment.


BeatXP targets 10 percent market share in smartwatch segment - BeatXP - Facebook


The brand has witnessed strong growth in this segment within just four months of its launch claiming to be one of the top 10 smartwatch players in the market and aims to be in the top 5 by the end of 2023.

BeatXP claims to have turned EBITDA positive (profitable at an operating level) since January this year after witnessing a 5 times growth in revenue over the previous year.

Commenting on the company's performance, Ashish Dhuwan, business director at BeatXP in a statement said, “BeatXP has turned EBITDA positive since the month of January. Advanced tech, affordability and consumer-centricity are our three key pillars, and we will continue to focus on them to grow our brand aggressively.”

Aziz Alam, business director at BeatXP added, “Our operating metrics are great and one of the best in the industry. Also, with the same rate of momentum, we aim to scale our revenue by 7X in FY24. Our world-class smartwatches will be our biggest category, and we aim to capture 10 percent market share by the end of 2023 to become one of the top-selling brands in this category.”

Founded in late 2021, BeatXP's claims to have crossed the Rs 100 crore ($12.1 million) sales mark. It sells through its website, e-commerce platforms, and multi-brand retailers.

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