Shillong, September 12: India witnessed a significant 34 percent year-on-year growth in True Wireless Stereo (TWS) earbuds shipments during the second quarter of this year.
As per IANS, domestic brands, while still dominant, saw their market share decrease to 75 percent from 80 percent the previous year, primarily due to the improved performance of Chinese brands. This information comes from a recent report.
Chinese brands achieved a remarkable milestone, capturing a 17 percent market share, the highest they’ve seen in the past seven quarters. OnePlus played a significant role in this surge with the introduction of their Nord Buds 2. OPPO, realme, and Xiaomi also contributed to the success of Chinese brands, as reported by Counterpoint Research.
Among the domestic players, boAt continued its impressive performance, growing by 17 percent year-on-year, securing its position at the top for 12 consecutive quarters. Boult Audio, on the other hand, maintained its second position for the third consecutive quarter.
India maintained its global ranking, securing the second position in terms of TWS shipments for the third consecutive quarter, with a 15 percent share in Q2. This growth is attributed to increasing consumer preference, a rising focus on gaming, surging shipments of locally manufactured TWS, and numerous launches in the affordable segment, according to senior research analyst Anshika Jain.
Notably, 81 percent of TWS shipments in India during Q2 were products priced at Rs 2,000 or $24.
boAt also made waves on the global stage, securing a 6 percent share of global TWS shipments and claiming the third position in the global TWS market in Q2.
OnePlus experienced a staggering 228 percent growth, securing the third spot, driven by its mid-price tier Nord series, which accounted for over 80 percent of the brand’s portfolio.
Other players in the Indian TWS market included Noise, ranking fourth with a 7 percent market share, and Mivi, which saw a 16 percent year-on-year growth, securing the fifth position.
realme also posted impressive growth, with a 54 percent year-on-year increase. Their Techlife Buds T100 model entered the top 10 model list for the second consecutive quarter, claiming a 3 percent share.
The report concludes with a positive outlook, estimating a 41 percent year-on-year growth in India’s TWS market in 2023, driven by the upcoming festive season sales and the increasing popularity of TWS among consumers.