BeatXP debuts into the smartwatch sector
- ByStartupStory | December 24, 2022
BeatXP, a manufacturer of fitness equipment, announced on Friday that it has entered the wristwatch industry with the goal of gaining 10% of the market by the end of 2023.
According to beatXP Business Director Ashish Dhuwan, the company has an average sale of Rs 1 crore a day from its restricted launch about ten days ago, which gives it the confidence to easily hit its goal. BeatXP was founded in late 2021, and its combined revenue has surpassed Rs 100 crore.
In order to target the market for affordable products, according to Dhuwan, the company has included six physical sensors, including one for electrocardiograms (ECG).
“BeatXP aims to capture 10 per cent of the smartwatch market share by the end of 2023 to become one of the top-selling brands in this category. There is a huge gap in the wearables category where most brands in the affordable segment offer non-accurate sensors such as heart-rate, SPo2. beat XP’s Exact smartwatch is offering ECG and family remote health monitoring which is not available in the competitor’s brands,” he said.
India’s smartwatch market rose 167% annually between July 2022 and September 2022, making it the largest smartwatch market in the world.
beatXP will target those between the ages of 24 and 35, including working professionals, fitness enthusiasts, and people looking for cheap performance.
“We are looking at launching more products based on customer requirements. We are also extending the reach through online and offline platforms. Our marketing team will also be launching a robust influencer outreach program on social media,” Dhuwan said.
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