Hyperconnect, the company behind the Azar video chat application, is making waves in the Indian market with its innovative technology and localized strategies.
The company recently announced that Azar had become the number one and number two recurring revenue application in India's AppStore and Google Play, respectively.
The application falls under the Social Networking category in the AppStore and the Communications category in Google Play.
Hyperconnect attributes its success in the Indian market to three factors:
- Hyper RTC: Azar's technology is based on WebRTC, a mobile version known as Hyper RTC, which optimizes bandwidth for communication. As India's broadband penetration remains at 47%, significantly lower than other countries, Hyper RTC provides a competitive advantage by offering better service with India's current communications infrastructure.
- On-device AI and deep learning engine: Hyperconnect has developed a small, lightweight deep learning model optimized for mobile devices. This technology targets the lower-end smartphones in the Indian market, which have an average selling price of approximately $163, compared to an average of $580.27 in the United States. The technology helps reduce CPU usage by 30-50% on iOS devices while improving heat and battery consumption on Android devices using AI.
- Localization: Unlike many South Korean startups focusing on the U.S. or China, Hyperconnect has prioritized localization. The company opened an office in Mumbai, India, in 2018, allowing it to adapt its marketing and sales strategy to the local market with the help of Indian employees.
Hyperconnect's financial performance has been impressive since its inception, with a net profit of KRW 5 billion (USD 4.2 million) in 2016, just two years after its launch.
In addition, it boasts a return on equity of 38%, a net profit margin of 13%, an asset turnover ratio of 1.82, and financial leverage of 1.66.
As the tech company continues to expand in India, investors, strategists, and tech enthusiasts will watch Hyperconnect's progress in this emerging market.