India's true wireless stereo hearables market took off in the third quarter, with growth of 723% year-on-year, the technology analyst firm Counterpoint Research says, adding that this was one of the few segments that managed to defy the economic slowdown in the country.
The top three brands made up almost half of the total shipments,m with boAt taking 18% share while Xiaomi retained its second spot and realme fell back to third. JBL Harman and Apple rounded off the top five.
Research associate Anam Padha said: “Inventory build-up prior to the festive season, along with a good number of new launches and the entry of new players like OnePlus, vivo and Infinix, drove this substantial growth.
"Besides, work-from-home and study-from-home due to the COVID-19 pandemic continued to boost demand.”
Regarding smartphone OEMs’ IoT strategy, research analyst Shilpi Jain said: “Most of the smartphone OEMs now have entered the CIoT segment and are expanding their TWS portfolios across price tiers to benefit from the huge potential it has.
"Increase in ‘stay at home’ activities due to the COVID-19 pandemic have also boosted the demand for TWS. Smartphone OEMs have managed to carve out a significant place for themselves in the segment by leveraging their already established brand awareness and sales channels.”
Jain said the average selling price increased for the first time since 2019, mostly due to the increase in Apple AirPod shipments and new launches in higher price tiers.
"Apple’s decision to not include wired EarPods with its new iPhone 12 series evidently helped it to increase the demand for AirPods," she commented.
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