New Delhi: Homegrown smart wearables brand Fire-Boltt on Thursday said it has invested $1 million in the Vietnam market.
The company recent forayed into the South-east Asian market, where it commenced its operations in Singapore and Vietnam region.
With this investment in Vietnam, Fire-Boltt said it aims to boost its operations in the country and gain a strong foothold in the market.
“Just like India, Vietnam is also a price-sensitive market so our target is to provide the most affordable and feature-loaded products to our consumers, without compromising on quality,” said Arnav Kishore, Founder and CEO at Fire-Boltt.
Fire-Boltt has a strong presence in the Indian market and is among the top four best-selling smartwatch brands globally.
Fire-Boltt is incubated and backed by Savex Technologies in the country.
For its Singapore and Vietnam operations, Fire-Boltt has partnered with SmartechSG Pte Ltd.
“Fire-Boltt products are packed with the most advanced features and considering the average income of Vietnamese people, their prices are extremely reasonable,” said Nguyen Chu Minh Duc, a company spokesperson.
“Fire-Boltt is also planning to expand its operations to Indonesia and Malaysia in the coming months”, he added.
In 2022, Fire-Boltt came fourth in the India market, with a strong 250 (on-year) growth and shipping 2.2 million units, according to IDC.
–IANS