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Fencing With The Dragon In Electronics
XOR Technologies is already a leading manufacturer of mobile accessories and other electronic products with a facility in Delhi and an outfit in China
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While most chargers available in the market are made in China, some companies in India are manufacturing them too, XOR Technologies among them. Started in 2016 by Arnav Mutneja, XOR Technologies is a leading manufacturer of mobile accessories in India. Two major product categories for XOR are power banks and mobile chargers. “It is extremely difficult today to build a brand and the only way to succeed is with unique offerings that are consumer targeted. Finding the right target audiences and making content that is impactful to the consumer is a must. With giants which are well funded in every category, this is a very tough task and patience is going to be key for every new brand especially during these Covid times,” says Arnav Mutneja.
Challenging the Dragon
China, often dubbed the factory of the world, offers low-cost manufacturing that entices business owners. Manufacturing in India from ground up, could mean high costs up front compared to manufacturing and importing from China. “Chinese manufacturers have over the years mastered the art of cost optimization through extensive experimentation in material science. They have been able to achieve this due to economies of scale. Indian manufacturers need to look at manufacturing from a long-term perspective and grow together as an industry. Mainstream hardware components need to be manufactured in India and manufacturers with such skills need to control their desire for profits so that mass adoption of Indian hardware can take place,” says Mutneja. XOR Technologies has seen a turnover of Rs 75 crore in its third year of manufacturing in India.
Wide List of Products Beginning with chargers and Powerbanks, XOR Technologies today offers a wide list of products like Bluetooth and wired speakers, USB hubs, Industrial Power Banks and Smart LED Bulbs. The company has a raw material sourcing office at Shenzhen in China, a manufacturing unit at Mayapuri in Delhi and a dedicated R&D team in Bangalore.
Asked about the brand’s USP in an already crowded market of peripherals, Mutneja says, “Tailored products to the Indian consumer and a loyal brand following due to extreme attention to quality have helped us succeed and create a dent in the verticals we operate in. Local manufacturing and cost control has helped us sustain large upfront investments in brand building.”
ZinQ Technologies, an accelerator brand of XOR Technologies, is one of the fastest growing private labels on Amazon. It has begun exporting to West Asia, starting with Amazon Dubai and Saudi Arabia.
Mutneja seems excited by the Production Linked Incentive (PLI) schemes announced by the Union government to incentivise manufacturing of electronic goods in India. “PLI schemes are a great incentive to manufacturers for scaling up and they have come in at the right time. The schemes are in general well thought through. What remains to be seen is how efficiently these are implemented and manufacturers rewarded for their hard work. The success of these policies is going to shape the future of the Indian manufacturing scene,” says Mutneja.