November 25, 2020 9:10:58 pm
India has been a rapidly growing truly wireless stereo (TWS) earphone market with 723 percent Year-on-Year (YoY) growth in Q3 2020, according to a report by Counterpoint Research. The report calls it as one of the select few categories that managed to defy the impact of economic slowdown. This increase in the TWS market seems to have been led by the new work from home environment and the increasing number of good entry level truly wireless earphones.
The Indian truly wireless market is led by boAt with a 18 percent market share, followed by Xiaomi (16 percent), Realme (12 percent), JBL (8 percent) and Apple (6 percent). Research Analyst Shilpi Jain said, “Apple’s decision to not include wired EarPods with its new iPhone 12 series evidently helped it to increase the demand for AirPods.”
According to the report, the best selling truly wireless in India during Q3 2020, were the Redmi Earbuds 2C. The company states that this was made possible due to its “promotional price of Rs 999 and better features, including improved call quality, comfortable fit and multi-function button.”
Second on the list were the boAt Airdopes 441, out of a slew of boAt truly wireless earphones. Realme Buds Q and Buds Air Neo managed to secure the third and fourth spots on the best selling TWS models, during Q3 2020. Apple’s 2nd Gen AirPods managed to secure the fifth spot on the list thanks to increased shipments due to the removal of earpods from the new iPhones.
JBL which held the overall fourth position on the list with an 8 percent market share during Q3 2020, saw a drop in its share from the last quarter, where it managed to hold a 15 percent market share. The report states that this could have happened due to the increased competition, and consumers preferring value offerings due to the economic slowdown.
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