Nonstop Innovation Biggest Challenge for TWS, Wearable Segment: Ameen Khwaja, CEO of pTron

Domestic manufacturers leave no stone unturned to offer affordable wearables and earables to their customers. While these Indian brands improve the quality of their products in the True Wireless Stereo (TWS) category with each launch, almost all of them face a major challenge in providing precise data and accurate step counts. PTron, which ranked third in the TWS category with 7.3 percent in Q1 2023 (according to International Data Corporation’s (IDC) India Monthly Wearable Device Tracker), believes it is important for customers to to offer both affordability and accuracy in India.

pTron is a trademark of Palred Electronics Private Limited, a subsidiary of Palred Technologies Ltd, a company listed on the BSE and NSE since 2004. According to the company’s official website, it is the first company to manufacture TWS in India. Speaking to Zee Business, pTron founder and CEO Ameen Khwaja said the company puts significant effort into ensuring its smartwatches offer accurate step counts and other relevant metrics. While Khwaja thinks that there is still a lot of room for growth in the wearable segment, he also emphasized that the biggest challenge in the coming days for the TWS and wearable segment will be to continuously innovate and deliver products that meet the changing needs and preferences of consumers.

Here are the edited excerpts from the interview:

Q: According to IDC, the Indian wearables market recorded a year-on-year growth of 80.9% in the first quarter of 2023. How do you see it? Do you think there will be saturation or that it will continue to grow?

Ameen Khwaja: We are excited about the tremendous growth of Indian wearables market as highlighted in IDC report. We at pTron have also witnessed this year-on-year growth, showing the increasing adoption and demand for wearables in India. With rapid technological advances and changing consumer preferences, we believe there is still plenty of room for further growth in this segment. With the rising awareness of health and fitness and the integration of advanced features, we expect the wearables market to continue its upward trend.

Q: Smartwatches from Indian brands usually don’t provide accurate figures on step count and others. Don’t you think it will affect their image in the long run? How do you want to do it?

Ameen Khwaja: At pTron, we also attach great importance to providing our customers with precise and reliable measured values. We understand the importance of accurate measurements and data precision in the smartwatch category and use industry-standard chipsets for step counting and heart rate.

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We invest significant effort to ensure our smartwatches provide accurate step counts and other relevant metrics. Our commitment to quality and user satisfaction sets us apart from the competition. We are constantly developing our products and using advanced technologies to improve the accuracy and performance of our smartwatches.

Q: What are the main focuses of Indian brands like pTron – providing affordable watches or precise readings?

Ameen Khwaja: At pTron, our primary focus is to provide our customers with the perfect balance of affordability and accuracy. We know how important it is to deliver quality wearables at affordable prices without compromising on performance. Our products are designed to meet the evolving needs of our customers by providing accurate readings and reliable functionality. We believe we can offer our customers a superior value proposition by offering both affordability and accuracy.

Q: There are reports pointing to a drop in online smartphone sales. Do you see similar trends in the TWS category and the wearable category?

Ameen Khwaja: Although there may be fluctuations in online sales across different product categories, we have not observed a significant decrease in online sales of TWS and wearable devices. In fact, the demand for TWS earbuds and wearables has grown steadily due to their comfort, functionality and changing consumer preferences. At pTron, we continuously adapt to market dynamics and focus on customer preferences such as style, reliability and affordability, especially for youth and consumers in Tier II and Tier II cities. This helps keep our products competitive and in demand in the online market.

Q: Chinese manufacturers like Xiaomi and Oppo are launching TWS at aggressive prices. Do you think they will manage to dominate this segment like they did in the smartphone category?

Ameen Khwaja: Chinese manufacturers have indeed made remarkable strides in the TWS segment, leveraging their expertise in the consumer electronics industry. However, the audio and wearable market is very dynamic and competitive. At pTron, we believe that we can offer Indian made, innovative and high quality products specifically tailored to the needs of Indian consumers. Our focus on affordability, accuracy, and customer-focused features and Made in India products positions us uniquely in the market. We believe that customers appreciate the value and quality we offer, which allows us to maintain a strong presence in this segment.

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Q: What is the biggest challenge for this segment in the coming days and how is pTron prepared for it?

Ameen Khwaja: The biggest challenge in the coming days for the TWS and wearable segment is to continuously innovate and provide products that meet the changing needs and preferences of consumers. Rapid advances in technology, changing fashion trends and rising consumer expectations require brands to remain agile and proactive. At pTron, we are ready to rise to this challenge by investing in research and development, working with industry experts and using our customers’ feedback to drive continuous improvement. Our commitment to always being one step ahead enables us to offer our customers state-of-the-art products and experiences.

Q: Who are your biggest competitors in the TWS hearable and wearable segment?

Ameen Khwaja: In the TWS audio and wearable segment, we face competition from different players. Our main competitors include both established brands and emerging companies serving similar consumer segments. While competition is healthy and drives innovation, we differentiate ourselves through our core values ​​of affordability, precision and uncompromising quality. By continuously delivering exceptional products and outstanding customer experiences, we have been able to build a strong position in the market. Our focus remains on exceeding our customers’ expectations and maintaining our leadership position in this competitive environment.