India saw a striking increase of True Wireless Stereo (TWS) earbuds shipments. The shipment grew by 723 per cent year-on-year in the third quarter of 2020, according to the latest research from Counterpoint’s IoT service.
“Inventory build-up prior to the festive season, along with a good number of new launches and entry of new players like OnePlus, Vivo and Infinix, drove this substantial TWS growth,” says the Research Associate Anam Padha, Counterpoint.
As per the report, Indian company Boat emerged as the market leader by capturing 18 per cent of the market share. This surpassed Xiaomi and Realme as they maintained 16 per cent and 12 per cent respectively.
The market share of Xiaomi dropped to 16 per cent from 20 per cent, as reported in the second quarter. Whereas Realme saw a noticeable drop of 10 per cent, as it was recorded 22 per cent in the second quarter that made it lead the market then. It is believed that no new product launch by Realme could be the reason for its fall in the market share.
According to the list, JBL holds 8 per cent market share, seeing a drop from 15 per cent in the second quarter. The two key factors for this decline could be the increasing competition in the market and 14.
Apple backed the fifth position with 6 per cent of the market share. The company dominated the market of TWS earbuds in India in 2019.
“Most of the smartphone OEMs now have entered the CIOT segment and are expanding their TWS portfolios across price-tiers to benefit from the huge potential it holds,” says Shilpi Jain, Research Analyst, Counterpoint. “Increase in ‘stay at home’ activities due to the COVID-19 pandemic has also boosted the demand for TWS” she added.
The report says that the increase in the Airpods shipments in India and new launches in higher price tiers boosted the average selling price of TWS earbuds in the country for the first time since 2019.
“TWS earbuds is one of the few segments which managed to defy the impact of economic slowdown, reaching its highest ever growth in shipments for a single quarter”, read the report further.
The Redmi Earbuds 2C led the market, followed by Boat Airdopes 441 and Realme Buds Q, claims Counterpoint. The Realme Buds Air Neo and the Apple AirPods (2nd Gen) came fourth and fifth, respectively.