NEW DELHI: The market for true wireless earphones is on a rise as more and more companies are entering this segment. As per the recent report by Counterpoint, the TWS market has witnessed year-on-year growth of 656% in Q2 2020. The report also reveals that the market is being led by Realme followed by Mi and JBL. As per Counterpoint, TWS is the only segment which has registered growth.
Shilpi Jain, Research Analyst, on the market growth, said, “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 the population.”
Smartphone maker Realme has gained the first position in the market courtesy the recently launched Realme Buds Air and Buds Q. Realme has also managed to capture three sports in the top five models in terms of shipments. On the other hand, Xiaomi secured the second position in the Indian TWS market. The company entered the TWS segment in India in Q2 2020 with the launch of Redmi Earbuds S and Mi True Wireless 2. The Redmi Earbuds S has turned out to be the top-selling model in the initial quarter after the launch.
The third position is captured by JBL with a 15% increase in the market share in Q2, 2020. The success witnessed by the company can be attributed to the three new devices launched by the company and the strong demand for its C100TWS model, as per the Counterpoint report.
The fourth and fifth spots are taken by Boat and PTron respectively.
“The huge growth potential of the segment (TWS) made many OEMs enter it with affordable offerings to cater to the masses. After Realme, Oppo and Xiaomi, Vivo, OnePlus, and Sony have entered this segment and, going forward, we might see more OEMs joining and increasing the competition in this category,” said Liz Lee, Senior Research Analyst, on the IoT strategy of smartphone OEMs.
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