Palred Electronics has forged a strategic collaboration with Creative Newtech Limited (NSE: CREATIVE) to distribute its brand pTron's products across India. pTron is a leading lifestyle electronics brand renowned for its innovative range of audio, smart wearables, and mobile accessories.
Under this exclusive agreement, Creative Newtech will serve as the exclusive distributor for pTron products throughout India, with the exception of Mumbai and Gujarat. Leveraging its extensive offline channels, Creative Newtech aims to bring a diverse range of pTron's Audio, Smart Wearables, and Mobile Accessories to consumers across these regions.
The product portfolio offered through this collaboration encompasses a wide variety of audio solutions, including True Wireless Stereo (TWS) earbuds, wired and wireless earphones, and speakers, along with smart wearables and power and charging products such as power banks and cables.
The partnership between Palred Electronics and Creative Newtech represents a strategic alignment aimed at capitalizing on the booming segment of audio, smart wearables, and mobile accessories in India, promising significant growth and market penetration in the years to come.
Commenting on this development, Mr. Ameen Khwaja, CEO & Managing Director of Palred Electronics Limited said: "We are thrilled about our recent partnership with Creative Newtech for the distribution agreement of Palred's esteemed brand, pTron, across India. This collaboration marks a significant milestone in our journey, further solidifying pTron's position as a leading player in the consumer electronics and mobile accessories market.
With Creative Newtech's extensive distribution network and market expertise, we are confident that pTron products will reach a wider audience, enhancing accessibility and customer satisfaction. We look forward to a successful and mutually beneficial partnership that will propel pTron to new heights of success in the Indian market."
Shares of Palred Technologies Limited was last trading in BSE at Rs. 203.85 as compared to the previous close of Rs. 202.70. The total number of shares traded during the day was 5409 in over 168 trades.
The stock hit an intraday high of Rs. 207.30 and intraday low of 195.85. The net turnover during the day was Rs. 1080637.00.