Hero Electronix’s Qubo brand aims to triple revenue this year
Hero Electronix’s consumer technology brand, Qubo, said Friday it will triple its growth this fiscal year to around 15% from 5% last year, for the company’s overall revenue.
A Hero Group company, Hero Electronix generates more than $100 million in revenue each year, and Qubo currently contributes about 5% of its overall revenue, senior company officials said. Activity area.
“We have tripled revenue every year for the Qubo brand…last year and this year too, we expect the same…5 to 15%. We are getting aggressive with a lot more products this year …there are more this year and we are focusing a lot on offline stores because our products need to be experienced. It’s not something you take off the shelf,” said Nikhil Rajpal, CEO of Hero Electronix. Activity area alongside the launch of new products.
The company entered the automotive product category with the launch of a smart dash cam priced at ₹4,290. The product will be available across all channels, including online portals like Amazon and Qubo’s own online marketplace, as well as offline channels through an extensive network of retail outlets.
Rajpal said the dash cam market in India is still very nascent (almost zero) compared to the $4 billion global market, and the company aims to become a number one player in the Indian market.
In the two years since its launch, Qubo has already established itself as a leader in the smart home field with its wide range of products, including connected devices such as smart cameras, video doorbells, door locks smart phones and other smart home accessories.
These products are based on proprietary hardware, software and artificial intelligence (AI) models created by Qubo. The company has its own research and development team with around 150 engineers working on future products.
“With the addition of auto tech products to our existing product portfolio, we are one step closer to our aspiration of reaching one million homes. We are actively present in 800 stores, but we will be opening 100 ‘shop-in-shops’ with full experience zones in the coming months, with our entire product portfolio present there,” said Ujjwal Munjal, Vice President of Hero Electronix.
Soon the company will also launch smart trackers and smart accessories such as tire pressure inflators in the automotive technology category, Munjal said, adding that all Qubo products are designed and manufactured in India, and its servers are hosted in India with a focus on data security. and cybersecurity.
May 27, 2022