‘India’s TWS market grows 723 per cent’
   Date :26-Nov-2020

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INDIA’S TWS (True Wireless Stereo, commonly known as earbuds) market clocked its highest-ever growth of 723 per cent year-on-year in the September 2020 quarter, with shipments of about 6 million units, according to Counterpoint Research. “It is one of the few segments which managed to defy the impact of economic slowdown, reaching its highest ever growth in shipments for a single quarter,” it said in a report. The growth was led by Boat, which cornered 18 per cent market share. This was followed by Xiaomi (16 per cent), Realme (12 per cent), JBL (8 per cent) and Apple (6 per cent).
 
“Inventory build-up prior to the festive season, along with a good number of new launches and entry of new players like OnePlus, vivo and Infinix, drove this substantial TWS growth. Besides, work-from-home and study-from-home due to the COVID-19 pandemic continued to boost demand,” Counterpoint Research Associate Anam Padha said. Counterpoint Research Analyst Shilpi Jain said, most of the smartphone manufacturers now have entered the CIOT (consumer Internet of Things) segment and are expanding their TWS portfolios across price tiers to benefit from the huge potential it holds.
 
“Increase in ‘stay at home’ activities due to the COVID-19 pandemic have also boosted the demand for TWS. The smartphone OEMs have managed to carve a significant place for themselves in the segment by leveraging their established sales channels,” she added.