Gen Z: The contribution of local brands to total sales of true wireless speakers has shot up to 78% in calendar 2023, compared to 48% in 2020, due to more purchases by youngsters, according to latest numbers from Counterpoint Research. For smartwatches, the researcher said the contribution of local brands to total sales is 95% in 2023, from 38% in 2020.
The performance was attributed to a consistent demand for cooling products during the year, coupled with a strong offline and online distribution network, and new innovative launches, the Tata Group firm said in a statement. "The company achieved over 2 million AC units during this fiscal 2023-24, the highest ever sale of ACs by any brand in a financial year in India, with a volume growth of 35 per cent," it added.
HSBC is bullish on the stock. It has maintained a ‘buy’ rating on the stock expecting that the company's unitary cooling products (UCP) division will witness a significant increase in profitability.
Voltas AC sales grew 35% in FY24 - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Leading residential air conditioner maker Voltas on Sunday said it has recorded a 35 per cent sales growth to over two million units in FY24, becoming the first company in the domestic market to cross this mark.
The performance was attributed to a consistent demand for cooling products during the