Earbuds, as the consumer electronics division, grew during the July-September period. During this period, India saw shipments of a record 8 million TWS (True Wireless Stereo) devices, led by indigenous company boAt, a new report showed on Wednesday.
According to Counterpoint Research, in contrast to other consumer electronics divisions, including smartphones, local brands continue to record the highest penetration in the market for TWS earbuds with 63 percent share, and the average selling price (ASP) is down 22 percent (per year).
India’s TWS market grew by 55 per cent in the 3rd quarter of 2021 reaching its highest ever shipment.
Brands have pushed large quantities of inventory on retail channels ahead of the festive season.
“The Indian TWS market Q3 2021 saw the most shipments in the single quarter driven by strong festival plans, new launches and major e-commerce platforms as well as multiple sales events on the brand’s own websites,” said senior research analyst Anshika Jain.
boAt 35.3 has a 35.8 per cent share of the overall Indian TWS market, representing the highest shipment volume since its inception.
“This quarter, brands like Realme and 1MORE have partnered with brand / sub-brand strategies to expand their reach and increase competition by launching Dizo and Omthing, respectively,” he added.
In terms of features, emphasis has been placed on active noise cancellation (ANC) and gaming.
“Important players like Truke and Ptron have brought their first gaming TWS earbuds. Also, prominent brands have introduced various new models for the premium segment as well as technology enthusiasts, ”said Jain.
For example, the OnePlus Buds Pro, Samsung Galaxy Buds 2, Nothing Ear 1 and JBL Pro Plus have been introduced as new options, increasing the ASP in the premium segment by another 20 percent.
“Domestic manufacturing is gaining momentum as more brands continue to partner with ODM to bring in Indian-made devices and increase their production capacity.
“Noise has partnered with Optimus, promising to offer multiple locally made devices in the coming quarters. Similarly, Realmy has announced a partnership with Khy Electronics, ”said research associate Anam Padha.
Another Indian brand, Embrain, has set up a unit to manufacture audio devices locally.
Among the new entrants in Q3 2021, Dizo was the fastest growing brand. It launched four new models in the TWS market in the first quarter of launch, the report said.
(With input from IANS)
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