Laptop company Primebook grabs 3% market share in first year

economictimes.indiatimes.com:

Floydwiz Technologies has grabbed nearly 3% of the Indian laptop market with its Primebook brand of affordable devices in just nine months of entering the online marketplace, according to its co-founder, Chitranshu Mahant, who expects sales to touch 50,000 units by the end of 2023.

The company has a revenue of Rs 10 crore per month and is projected to touch Rs 60 crore for 2023 at this run rate, Mahant told ET.

Elevate Your Tech Prowess with High-Value Skill Courses

Floydwiz, founded in 2017, initially aimed at monetising the PrimeOS operating system in India and the overseas market. By 2019, the team had also started working on building affordable laptops. However, supply-chain challenges and dearth of funding during the pandemic made it tough for the firm to launch its devices. It was only last year that Primebook laptops were available in the B2B segment, and on marketplace Flipkart in March this year.

Mahant claimed that the company is one of the fastest growing startups in the IT hardware sector whose valuation has already crossed Rs 500 crore.

It faces competition from heavyweights such as Google’s Chromebook and Reliance’s JioBook. A year ago, when its founders made an appearance on the entrepreneurial TV show Shark Tank, the company was valued at Rs 50 crore.

“Our exponential growth is attributed to our foray in the Flipkart marketplace this year, where Primebook has become the top-rated brand in the under-Rs 25,000 category, both in terms of ratings and volume,”