The smartwatch will use Jio’s eSIM connectivity and features a 1.39 inch AMOLED display.
Reliance Jio, under the leadership of Akash Ambani, has collaborated with Boat, a consumer tech company led by Aman Gupta, a judge on Shark Tank, to launch the Boat Lunar Pro LTE smartwatch in India. This smartwatch, the first from Boat to support LTE, will use Jio’s eSIM connectivity, enabling users to make calls, send messages, and stay connected without needing their smartphone.
The watch’s built-in GPS is designed for precise tracking of outdoor activities like running and cycling. The Boat Lunar Pro LTE features a 1.39-inch AMOLED display and includes various health and fitness monitoring tools, such as a heart rate monitor and SpO2 sensor.
Aman Gupta, Co-Founder and CMO of Boat, praised the partnership with Jio, emphasising the commitment to providing advanced technology to everyone. The Boat Lunar Pro LTE smartwatch will soon be available in both online and offline stores, though its launch date and price are yet to be announced.
Boat, renowned for its audio products and smartwatches, has seen significant growth in its smartwatch segment, with a 50% year-on-year revenue increase in the financial year 2022-23. Its operating revenue saw an 18% increase in the financial year 2023, rising to INR 3,376.7 crore from INR 2,873 crore in the previous year. The revenue from its audio segment contributed INR 2,350.8 crore, while its wearable segment generated INR 901.5 crore.
Despite this growth, Boat experienced its first net loss since its inception, amounting to INR 129.4 crore, compared to a net profit of INR 68.7 crore in the previous financial year. The loss was attributed to the company’s investment in developing the smartwatch category and enhancing its Make in India infrastructure.
Since early 2022, Boat has started manufacturing its products in India, producing over 30 million units in the country to date, with more than 15 million units produced in the financial year 2023 alone. The company is actively working with Indian electronic manufacturing services providers to improve manufacturing processes and establish a high-quality production ecosystem in India. Aman Gupta, speaking at Inc42’s ‘The D2C Summit 4.0’, noted that prior to Covid-19, none of Boat’s products were made in India, but as of 2023, this has increased to 70%.
