News Update

boAt Partners With Reliance Jio to Launch Lunar Pro LTE Smartwatch

• ByStartupStory     |    December 27, 2023

boAt, known for its audio products and smartwatches, has collaborated with Reliance Jio to introduce the Lunar Pro LTE smartwatch, utilizing Jio’s eSIM technology for connectivity. The eSIM functionality allows users to make calls and send messages directly from the smartwatch, eliminating the need for a smartphone. The Lunar Pro LTE also features built-in GPS for accurate activity tracking, catering to outdoor enthusiasts involved in activities like running and cycling.

In addition to its connectivity features, the Lunar Pro LTE serves as a comprehensive fitness tracker, equipped with a heart rate monitor, blood oxygen monitor, sleep tracker, and alerts for sedentary behavior, promoting an active and healthy lifestyle. The smartwatch is set to be available for purchase in the coming weeks.

Expressing Jio’s commitment to innovation, a spokesperson stated, “This partnership with boAt is a testament to our commitment to innovation and our focus on providing our customers with the best technology.”

Established in 2015 by Aman Gupta and Sameer Mehta, boAt has been expanding its presence in the audio and wearables markets, offering a range of products including headphones, smartwatches, and speakers. While the company has gained traction in the audio products market, it has been investing significantly to capture a larger share of the Indian wearable market. boAt reported a substantial growth of over 50% in revenue from the smartwatch segment in the financial year 2022-23 (FY23).

Despite the overall growth in operating revenue, which rose to INR 3,376.7 crore in FY23 from INR 2,873 crore in the previous fiscal year, boAt incurred a net loss of INR 129.4 crore during FY23, marking its first net loss since its inception. The company attributed this loss to its strategic investments in expanding the smartwatch category and scaling up its Make in India infrastructure.

boAt commenced local manufacturing in India in early 2022 and claims to have produced more than 30 million units in the country to date, including over 15 million units in FY23. The company has been working closely with Indian electronic manufacturing services (EMS) providers to enhance its manufacturing processes and develop a robust manufacturing ecosystem in India.

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