True wireless stereo shipments in India grew 656% in June quarter: report1 min read . Updated: 04 Sep 2020, 05:16 PM IST
- The Counterpoint report attributes the increase in sales to the growing demand for audio products to meet the remote working and learning requirements of professionals and students in the new normal
New Delhi: True wireless stereo (TWS) shipments in India grew 656% in the June quarter with Realme, Xiaomi and JBL accounting for 57% of the market, Counterpoint Technology Market Research's latest report shows.
The report attributes the increase in sales to the growing demand for audio products to meet the remote working and learning requirements of professionals and students in the new normal.
"Entry of players like Xiaomi and OPPO, and launch of more affordable devices pushed the average selling price (ASP) to the lower side, making it possible to reach a larger section of population," Shilpi Jain, research analyst at Counterpoint said in a statement.
Jain points out, with many companies now preferring the work-from-home option and educational institutions staying closed due to covid-19, this trend of staying connected is likely to continue and drive TWS demand further.
In terms of market share, Realme was the top brand in the TWS category in the June quarter with 22% market share, followed by Xiaomi (20%) and JBL (15%). Low price tag and premium design helped drive up sales for Xioami and Realme TWS, while audio quality and battery performance made JBL the more preferred brand for buyers looking for better options in the vicinity of ₹5,000.
Home-grown brands boAt (with 10% market share) and pTron (6% market share) held the 4th and 5th slots, respectively. Strong channel partnerships, digital campaigns and brand endorsements were some of the strategies that helped the two brands grow.
Xiaomi's Redmi Earbuds S was the highest selling TWS model with 45,000 units getting sold within the first week of the launch. Realme's Buds Air Neo was the second-highest selling model in the quarter. JBL C100TWS, Realme Buds Q and Buds Air were the other top-selling products in the quarter.
According to Counterpoint, the success of smartphone OEMs in TWS will see competition grow in the category in coming months.
Liz Lee, senior research analyst at Counterpoint, explains, most of the OEMs are now redefining their strategies to focus on the complete ecosystem of connected devices. The growth potential in TWS has made many OEMs enter it with affordable offerings. After Realme, OPPO and Xiaomi, the likes of Vivo, OnePlus and Sony have also entered this segment. Going forward, more OEMs are likely to join the bandwagon.