In order to expand Skyball, a home audio, smart accessory, and consumer electronics business, Videomax International Pvt. Ltd. (VMI) will invest Rs 100 crore over the next three years. The company hopes to generate Rs 500 crore in revenue during that time. This year, Skyball wants to earn $100 million in revenue. We have two
manufacturing facilities, one each in Greater Noida and Roorkee, totaling 120,000 square feet of factory space. According to Sandeep Gupta, Chairman & Managing Director of VMI & Skyball, "Our focus is on giving the greatest technology to our customers.
The first line of Skyball devices will include soundbars, tower speakers, bluetooth speakers and party speakers. With the introduction of its smartwatches in June 2023, Skyball also intends to increase the size of its wearables range. The company will first focus on online platforms before expanding throughout all of India into offline retailers.
The home audio sector is anticipated to generate between 30 and 40 percent of the entire revenue, with the smart accessories sector likely to generate 60 percent of the total. The main contributors to the smart accessories sector are anticipated to be smartwatches, TWS, and neckbands. The company will change its focus in the following quarter to strengthening its distribution and dealer network in Tier-II and Tier-III.
