Speaking to TechGraph, Lalit Arora Co-founder of VinagJoy, a leading consumer electronic brand said, “Over the year, technology has played a vital role in the development of the consumer electronics industry in India.”
Read the complete interview:
Could you help give a sense of how far VingaJoy has come since its existence? From when it began to where it is now?
Lalit Arora: Having been launched in the year 2004, VingaJoy has made significant progress. During the research and development of consumer electronics, it was discovered that Indian consumers needed high-quality, innovative products at an affordable price, hence we came out with VingaJoy to cater to their needs. Since its inception, VingaJoy has been relentlessly pursuing the objective of offering products that cater to tech-savvy consumers on the go.
What are the new trends in the headphones and consumer electronic industry?
Lalit Arora: We saw a positive shift in consumer sentiments toward the adoption of wearables. Consumers want technological-driven products that offer quality and convenience at the same time such as wireless neckbands and speakers with hands-free calling with lightweight design. Smartwatches that monitor health and control smartphones. These are just a few examples of how technology has changed the preferences of consumers.
What according to you, is the scope of electronic consumer brands like this in the Indian market?
Lalit Arora: Increasingly, customers are buying innovative products with advanced technology to improve their lifestyles. Bluetooth Wireless Connectivity, Artificial Intelligence, the Internet of Things (IoT), and Near-Field Communication (NFC) play an important role to transform the industry.
In addition, various reports estimate that the earphones and headphones market will grow by over 12% between 2022 and 2028. Therefore, we can conclude that electronic consumer brands like VingaJoy, will be able to thrive in the Indian market.
How is VingaJoy leveraging technology to enhance the customer experience?
Lalit Arora: Considering the changing trend in the market with stiff competition, we at VingaJoy are taking the utmost care. Following the rigorous R & D findings, we are using the latest technology with the best materials to help our brand stand out amongst other brands available in the market.
The company introduced the “Hum Safar W-300” – a smartwatch that integrates an advanced health sensor for monitoring health and tracking fitness levels and enhances the customer experience. That is not all, we introduced products that are powered by technology and automation such as wireless neckbands; wireless portable speakers; pen drives, trimmers, chargers, power banks, etc.
How is technology transforming audio space? Do you think the trend had taken hold even before the IoT-induced disruptions?
Lalit Arora: Over the years, technology has played a vital role in the development of the consumer electronics industry in India. With the Internet of Things (IoT) and regular automation, the space between the tech-savvy generation and the audio industry is closing and audio technology is being transformed from wired headphones to wireless neckbands, from wired and heavy speakers to wireless and portable speakers, from analog watches to digital watches, from normal table lamps to solar-powered table lamps, etc.
When it comes to products offering, VingaJoy has gone beyond headphones – to power banks & smartwatches. But, do you see these categories becoming leading revenue contributors?
Lalit Arora: Yes, all of these products contributed to the growth of the company. As a consumer electronics company, VingaJoy embraces regular innovations and integration of new technology, as we do not want to limit ourselves to just one or two categories. As a market leader, VingaJoy has always been the first to introduce new products such as smartwatches and power banks.
What is VingaJoy’s growth trajectory?
Lalit Arora: From generating revenue to introducing new and innovative products, VingaJoy has been doing well. Having finally recovered from financial disturbance due to the dreaded pandemic situation that taught us how to handle difficult situations, we are competing with the market while offering highly advanced products to remain competitive in the industry.
VingaJoy has been collaborating with different e-commerce platforms, Retailers, and technology partners to boost its digital and offline footprint. Going forward, do you see more such engagements?
Lalit Arora: Yes, to remain competitive and stay ahead of the game, we have to keep boosting our digital and offline platforms by partnering with e-commerce platforms such as Tata Cliq and Tata Neu.
How is the response so far for your “Hum Safar” smartwatch?
Lalit Arora: Our smartwatch “Hum Safar” is doing very well and is becoming the first choice for youngsters and sports athletes who are seeking digital solutions for health issues. The “Hum Safar W-300” smartwatch is designed to raise awareness about physical and mental well-being in India by providing a full touch control and a health sensor for tracking health and fitness.
What are the latest innovations and developments at VingaJoy?
Lalit Arora: Keeping up with the time, the company is currently working on Virtual and Augmented Reality to continue its commitment to the end consumer.