Indian consumer electronics market size was valued at USD 71.17 billion in 2021 and is expected to expand at CAGR of 6.5% from 2022 to 2030. Its growth can be attributed to an increase in demand from household, changing lifestyle of individuals, easier access to credit and rising disposable incomes. Moreover, the contemporary government initiatives such as ‘Make in India’ and ‘Self Reliant India’ have encouraged the entrepreneurs across the country to come up with more Indian products. The remarkable investments by the government into this segment are motivating the budding electronic start-ups to innovate and manufacture electronic products indigenously.
However, amidst the wide scale industrial inclusion happening in this space, a large part of the Indian demographic still relies on international or Chinese brands for electronic gadgets and accessories over Indian brands. The reasons behind such inclination towards leading global brands are the quality of their products and the assurance for product security they provide. Alongside them, the Chinese products offer multifarious features at an affordable cost.
This is a major fact behind the Indian mass choosing Chinese accessories for their expensive smart phones and computers as the original supportive appliances are generally expensive due to import taxes. Moreover, most of the Indian electronic durables available in the market are assembled with Chinese materials. Such mobile accessories may carry potential risk to cause damage to the central device. So, a widespread necessity for certified and authentic electronic accessories within budgetary limits is felt among the Indian consumers.
This is where Mivi comes into the picture with its diverse range of audio wearables, speakers, charging cable and various other supportive accessories for electronic appliances. Mivi has emerged with a vision to come up with a line of electronic products that are entirely designed by Indians and produced in India. Keeping the needs and preferences of Indian consumer base in mind, the start-up has curated its products by using innovative technologies to meet the changing customer expectations. Mivi is the first ever electronic start-up that has its manufacturing unit in India.
A Home-grown Brand
Mivi offers a wide array of electronic accessories starting with wireless speakers, sound bars, wireless earphones, wireless headphones, wired earphones, charging cables, audio cables, HDMI cables, OTG adaptors, wall chargers, car chargers and desktop charger. The Mivi Duopods A25 offers 10mm large audio drivers, touch control, up to 40 hours of battery life with HD stereo sound and comfortable fit. All their earphones are ergonomic in nature and come with boosted bass. Mivi’s neckbands give 24 hours of playtime and the facility of fast charging. The Collar Wireless
Earphones or neckbands have Bluetooth 5.0 connectivity, CVC 6.0 noise cancellation, battery life up to 10 hours and IPX 4.0 sweat resistance. Mivi sound bars are devised with 100W cinematic sound, 2.2 channel sound,two in-built woofers and can be connected through Bluetooth, HDMI ARC, aux, USB and coaxial port.
Coupled with multiple EQ modes Mivi sound bars are designed to deliver elevated audio experience.The wired earphones that Mivi offers are combined with 10mm neodymium driver and innovative cavity to produce optimal sound. The spacing in cavity between the front and rear chambers is engineered for prime resonance of the sound wave. The feature allows the bass to thrive more in order to execute enriched sound experience. Their Bluetooth speakers have prolonged battery life upto 24 hours.
Eyes on Excellence
Mivi uses smartly integrated IC in their car chargers that detects the device connected in each port while identifying the appropriate voltage to charge each device at the intended speed of 2.4A per port. Their wall chargers are designed with built-in intelligent circuitry that safeguards the connected device from fluctuation of voltage, short-circuit and overheating. This wall charger lets the user charge multiple gadgets simultaneously. Devic Mivi designed their earphones and speakers by prioritizing their battery longevity. The user has the comfort of not having to keep their devices on charging continuously. The appliances can go on straight up to 10 to 15 days depending on how long the user plays them after charging it properly. They also have the convenience of fast charging.
Mivi uses latest Bluetooth technology to minimize sound lag. They pay special attention on sound delay during gaming in order to reduce lag. As Indians has sheer fondness for bass, Mivi designed their sound signature, EQ the earphones and speaker can suit to the Indians’ taste in music. The international brands are likely to design their products keeping the western audience in mind. Thus the Indian demographic remains undeserved in terms of availing suitable accessories for music and sound.
Midhula D, Co-Founder of Mivi adds, “We are the first ones to come up with different kinds of designs and Requirement of products based on the requirements of the Indian consumer. For example, when we launched speaker many brands already have speakers. So why should we launch a speaker? We have taken the Indian atmospheric conditions into account as speakers get damaged due to heavy presence of dust in the air here. The waterproof speakers are all over the market, but in India not many people have swimming pools and hence not a lot of consumers will use speakers inside the swimming pool. So the criterion of necessity arises from the fact that is India has high density of dust in the air compared to Western countries and it ruins your products. So, having something like waterproof and dustproof product would help you in that way”.
We are the first ones to come up with different kinds of designs and requirement of Products based on the, requirements of the Indian consumer
Mivi reached 62 crores of revenue in FY 21. During FY 22, they are expected to get close to 150 crores and are projecting to rake in 400 crores in the next year. They have in-house manufacturing facility with the workforce and audio chamber to enhance the nuances in music so that strength of 700 employees. Being a solely home grown company Mivi is enabling opportunities for employment and producing a line of domestic electronic products of international standard. The 80 to 85% of their workforce are women. Mivi’s act of women empowerment has been creating opportunities for women and making a social impact. Instead of promoting Chinese products and white-labeling those in the homeland Mivi chose stand out by launching Indian products for Indian mass. Their workforce is also consisted with Indian professionals.
Vision for the Future
Midhula D, further adds “We are launching sound bars in the home audio category in a few days. These will be the ‘Made in India’ sound bars. We are also working on wearables. We will soon be launching smart watches and are also working on multiple other categories. We wanted not just to make products for India, we want it to be the Indian company that is making a mark all across the globe in this electronic space.” Mivi has a very strong roadmap set for itself as the company’s vision is to be a premium product company. As of today, Mivi is the only product company in this space in India and now its vision is to put the brand’s name on the global space.
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