boAt and Reliance Jio to Launch eSIM-Connected Smartwatch

With the launch of the Lunar Pro LTE smartwatch, which uses Reliance Jio's eSIM to provide connectivity, audio products and smartwatch brand boAt has partnered with the telecom provider.

Users will be able to send and receive messages without using their smartphones thanks to eSIM connectivity.

The smartwatch is appropriate for outdoor enthusiasts who run or cycle because it has an integrated GPS for precise activity tracking.

In order to encourage an active and healthy lifestyle, the Lunar Pro LTE also functions as a fitness tracker. It has a heart rate monitor, blood oxygen monitor, sleep tracker, and alerts for sedentary behavior.

The smartwatch will be on sale in the upcoming weeks, according to the startup.

"This partnership with boAt is a testament to our commitment to innovation and our focus on providing our customers with the best technology," a Jio spokesperson said in reference to the partnership.

Established in 2015 by Aman Gupta and Sameer Mehta, boAt is a company that sells wearables and audio products, including speakers, smartwatches, and headphones.

Although boAt is well-known in the audio products industry, the startup has been heavily to capture a significant portion of the Indian wearable market.

The smartwatch segment generated over 50% of boAt's revenue in the fiscal year 2022–2023 (FY23), according to the company.

All things considered, its operating revenue increased by 18% from INR 2,873 Cr to INR 3,376.7 Cr in FY23. INR 2,350.8 Cr came from the audio segment of this, and INR 901.5 Cr from the wearable segment.

BoAt entered the red for the first time since its founding in FY23, despite a rise in its top line. During the reviewed year, the startup reported a net loss of INR 129.4 Cr, compared to a net profit of INR 68.7 Cr in FY22.

The company's investments in launching the smartwatch category and expanding its Made in India infrastructure were cited as the reason for the loss.

Early in 2022, boAt started producing its goods in India, where it now says it has produced over 30 million units (over 15 million in FY23).

In an effort to improve efficiency and create a superior manufacturing ecosystem in India, boAt announced last month that it is in constant collaboration with Indian electronic manufacturing services (EMS) providers.

Gupta had previously stated, "Pre-Covid, 0% of our products were made in India," at Inc42's "The D2C Summit 4.0." By the year 2023, 70% of our goods are produced in India.