PTron, a brand under Palred Electronics Private Limited, has been making significant strides. The company, a subsidiary of the publicly-listed Palred Technologies Ltd since 2004, holds the distinction of being the first to manufacture True Wireless Stereo (TWS) devices in India.
PTron’s commitment to providing a blend of affordability and accuracy has positioned it as a notable player in the True Wireless Stereo category.
As of the first quarter of 2023, the International Data Corporation’s India Monthly Wearable Device Tracker placed PTron at the third spot in the TWS category with a 7.3 percent market share.
Ameen Khwaja, the Founder and CEO of pTron, underscores the company’s dedication to ensuring that their smartwatches deliver precise data, particularly in step counts and other relevant metrics.
Ameen’s journey
In 2005, Ameen Khwaja returned to India and took on consulting roles in various insurance companies. However, he found himself dissatisfied with his work. The mid-2000s witnessed a boom in the smartphone industry, along with a surge in the accessories segment.
Recognizing the high potential in this industry, Ameen embarked on a journey that led to the creation of his own ecommerce website, latestone.com, in 2015, focused on selling smartphone accessories.
From the inception of an ecommerce platform to venturing into the smartphone accessories market, Ameen’s journey has been marked by overcoming challenges.
Initially importing products from China, he soon identified a significant gap in the smartphone accessories market in India. Ameen noted, “Despite the market potential being high, it wasn’t catered to, and so, we entered the market with a wider range of products.”
In 2015, Ameen took a significant step by launching pTron, a brand dedicated to consumer electronics and mobile accessories. The brand offers a diverse range of products, including Bluetooth headsets, True Wireless Stereo (TWS) devices, smartwatches, portable Bluetooth speakers, and networking products. This strategic move proved successful, with pTron achieving Rs 25 crore in the last quarter.
The current market
According to Ameen Khwaja, Founder & CEO of pTron, the Indian wearables market is experiencing significant growth, as indicated by IDC’s report. Khwaja expresses enthusiasm about the expanding market and emphasizes that pTron has observed the same Year-over-Year (YoY) growth, reflecting a rising adoption and demand for wearables in India.
In his view, the swift pace of technological advancements and evolving consumer preferences suggest there is still considerable room for further growth in this segment.
Khwaja points to the increasing awareness of health and fitness, along with the integration of advanced features, as key drivers, indicating his expectation for the wearables market to continue its upward trajectory.
On the same note, according to Ameen, the demand for TWS earbuds and wearables has shown steady growth, driven by their convenience, functionality, and the evolving preferences of consumers.
Khwaja emphasizes pTron’s proactive approach in adapting to market dynamics, with a specific focus on addressing customer preferences such as style, reliability, and affordability. This strategic adaptation is particularly tailored for the youth and consumers in Tier II and Tier III cities. Through this approach, pTron aims to keep its products competitive and in demand within the online marketplace.
The USP
Ameen highlights the company’s Unique Selling Proposition (USP) by emphasizing their commitment to precise and reliable data in the smartwatch category. Recognizing the significance of accurate measurements, pTron utilizes industry-standard chipsets for step count and heart rate, contributing to the credibility of their products.
Khwaja underscores the substantial efforts invested in ensuring pTron’s smartwatches deliver accurate step counts and other relevant metrics, setting them apart from the competition.
The company’s unwavering commitment to quality and user satisfaction is evident, as they continually refine their products and leverage advanced technologies to enhance accuracy and overall performance.
In response to the focus areas of Indian brands like pTron, Khwaja asserts that the company’s primary objective is to strike a perfect balance between affordability and accuracy. The emphasis is on delivering high-quality wearables at affordable prices without compromising performance.
By addressing the evolving needs of customers through accurate readings and reliable functionality, pTron aims to provide a superior value proposition to its customer base.
Competitors in the market
In the TWS audio and wearable segment, pTron faces competition from a diverse range of players, including both established brands and emerging players targeting similar consumer segments. While healthy competition fosters innovation in the market, pTron sets itself apart through its core values of affordability, precision, and uncompromising quality.
Ameen acknowledges the notable strides made by Chinese manufacturers in the True Wireless Stereo (TWS) segment, leveraging their expertise in the consumer electronics industry. Despite the dynamic and competitive nature of the audio and wearable market, Khwaja expresses confidence in pTron’s ability to provide innovative and high-quality Made-in-India products tailored to the specific needs of Indian consumers.
Competing in the market, pTron faced the challenges posed by ecommerce giants. Initially, the products were introduced to the market through latestone.com, and within three years, the brand achieved a value of Rs 220 crore. Ameen Khwaja highlights the strategic use of Facebook and digital marketing as drivers for the company’s sales during this period, with an acquisition cost that proved to be cost-effective.
However, within two years, pTron encountered challenging times. Ameen notes that Facebook increased its marketing prices, and the presence of heavily-funded ecommerce giants offering massive sales became tough to compete with. Subsequently, issues related to Facebook privacy further impacted sales.
Ameen reflects on the situation, stating that though they were doing well in the market, it was difficult to beat a heavily-funded e-commerce company that burns crores of rupees towards product acquisition, etc.
The challenges
Looking ahead, Khwaja identifies the biggest challenge in the TWS and wearable segment as the need to continually innovate and deliver products that align with the evolving needs and preferences of consumers. Rapid technological advancements, changing fashion trends, and increasing consumer expectations demand agility and proactivity from brands.
In response to this challenge, pTron is prepared to invest in research and development, collaborate with industry experts, and utilize customer feedback to drive continuous improvement.
Read more: First Human Successfully Implanted with Neuralink Cybernetic Device, Shows Positive Recovery
