Indian TWS earbuds brands begin to lose market share to Chinese players (Lead)

 - Sakshi Post

New Delhi, Sep 12 (IANS) India’s True Wireless Stereo (TWS) earbuds shipments grew 34 per cent (year-on-year) in the second quarter this year, as domestic brands accounted for 75 per cent of total shipments, down from 80 per cent in the same quarter a year ago due to Chinese brands’ improved performance, a report showed on Tuesday.

Chinese brands captured a 17 per cent market share -- the highest ever in the past seven quarters -- driven by OnePlus’ newly launched device Nord Buds 2. OPPO, realme, and Xiaomi also supported the growth of Chinese brands, according to Counterpoint Research.

Homegrown boAt grew 17 per cent YoY to mark 12 straight quarters of stating at the top, while Boult Audio ranked second for the third consecutive quarter.

"India ranked second in terms of global TWS shipments for the third consecutive quarter with a 15 per cent share in Q2, driven by increasing consumer preference, growing focus on the gaming aspect, skyrocketing shipments of locally manufactured TWS and multiple launches in the affordable segment,” said senior research analyst Anshika Jain.

In Q2, 81 per cent of India’s TWS shipments were dominated by products priced Rs 2,000 or $24.

“boAt took a 6 per cent global TWS shipment share and captured the third spot in the global TWS market in Q2,” Jain added.

OnePlus captured the third spot for the first time after registering a 228 per cent growth driven by its mid-price tier Nord series, which accounted for more than 80 per cent of the brand’s portfolio.

Noise took the fourth spot with a 7 per cent market share while Mivi took the fifth spot with 16 per cent YoY growth.

realme grew 54 per cent YoY. Its Techlife Buds T100 entered the top 10 model list for the second consecutive quarter with a 3 per cent share, the report mentioned.

“We estimate that India’s TWS market will grow 41 per cent YoY in 2023 helped by the upcoming festive season sales and the market’s growing traction,” the report said.

Disclaimer: This story has not been edited by the Sakshi Post team and is auto-generated from syndicated feed.

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