As per a Counterpoint Research report published on Thursday, true wireless stereo (TWS) shipments in India doubled in the third quarter of 2018 due to festive season inventory needed to meet high demand, several new launches, and discounts. .
According to the report, Indian TWS brands saw strong growth in the third quarter of 143% year-on-year, led by BoAt, Noise, Mivi, Boult Audio and Ptron, which together accounted for 79% of the market.
According to Counterpoint (Mobatree, 5 Elements, Duffer and Lyne), all of the new entrants in the quarter were domestic brands. As per the release, these Indian brands collectively hold 95% of the market share in the sub-Rs 2,000 price range.
However, Chinese brands saw their market share rise, reaching 13% in the third quarter. Realme and Oppo also introduced new TWS products to support the growth of Chinese brands. OnePlus has been the driving force behind this growth by offering the Nord Buds CE at the lowest price in its entire TWS portfolio.
Finally, with the launch of Apple’s AirPods Pro, global brands mainly serving the premium segment from the price range of Rs 5,000 and above have accelerated their growth. According to the report, Samsung, JBL and Apple were the main drivers of sequential overall growth of 9% and 91% year-on-year achieved by global brands in the third quarter.
“The top five TWS brands in India – boAt, Noise, Mivi, OnePlus and Boult Audio – accounted for nearly 70% of the total shipments. OnePlus is back in the top five driven by two recent launches – Nord Buds and Nord Buds CE – at an affordable price. said Senior Research Analyst Anshika Jain.
It credited the holiday season and a focus on domestic manufacturing for the strong growth this quarter. According to the research firm, domestic manufacturing saw a record quarterly growth of 288% this year, accounting for 34% of all shipments.
According to Jain, the top 10 TWS models accounted for 41% of the total TWS shipments. She added that the majority of these models cater to the low to medium price range (Rs 1,000-Rs 3,000).
In response, Associate Director of Research Liz Lee noted that it remains difficult for brands to increase their presence in offline channels because a significant portion (79%) still comes from online channels.