Midhula Devabhaktuni, Co-founder and CMO, MiVi
This year has been exceptional for Mivi in every way. We were recognized as the most preferred brand in India, we were quite proud of the same as we are the first brand in India that manufactures all our products at our facility in Hyderabad. We kicked off the year with the launch of our new soundbars, expanding our product portfolio into the home audio category. Entering a completely new category came along with many challenges that my team worked on, and the end result was a great success among the audience as we captured 25% of the market share in less than 6 months. We have had a growth of 600% in the TWS category, this year alone. Additionally we worked really hard and strengthened the existing brand portfolio with the launches of Duopods F50, F70, A550, and M30, along with two new collars, the Collar Flash Pro and Collar Classic. Another milestone this year was entering Nepal, our first-ever expansion into the international market. After a thundering response in our home country, we launched our full portfolio in Nepal.
Smart wearables is the next category we wish to conquer with our Made in India products and we have launched our first ever smartwatch, Model E in the market on December 1st, 2022. It was welcomed with open arms and the response has been tremendous. Apart from product launches and R&D, we also decided to strengthen our marketing initiatives. We onboarded and welcomed Ms. Samantha Ruth Prabhu to the Mivi family, which was a delightful experience altogether.
Currently the world runs on an electronic environment, all our devices are only becoming smarter with time passes. Device compatibility is a crucial issue that every consumer faces but as the world progresses this is to be resolved because it defeats the purpose of growing. Smart systems are already an important part of our life but currently it is considered a luxury but soon it is going to be a necessity. An environment created with all your devices may it be small or large, linked together will make life hassle free. The IOT is an industry that is quite niche now but we can see that in future this has the potential to create an integrated environment that will be a tech enabled environment which makes life more diligent.