According to Counterpoint Research research issued on Thursday, India’s true wireless stereo (TWS) shipments increased year on year in the September quarter (3Q22) on the strength of festive season inventories to satisfy significant pent-up demand, several new releases, and discounts.
According to the survey, Indian TWS brands expanded 143 per cent year on year in the third quarter, led by BoAt, Noise, Mivi, Boult Audio, and Ptron, accounting for 79 per cent of the market.
Furthermore, boAt gained 128 per cent yearly to retain its dominance for nine straight quarters. At the same time, Noise remained second for the fourth consecutive quarter. Moreover, OnePlus returned to the top-five ranks with a 6 per cent share in Q3.
India TWS Shipments by brand origin
According to the reports: “The top five TWS brands in India – boAt, Noise, OnePlus, Mivi, and Boult Audio – accounted for about 70 per cent of total shipments.” OnePlus reappears in the top five because of two recent low-cost releases – OnePlus Nord Buds and OnePlus Nord Buds CE. Indian brands grew 143 per cent yearly to reach their most enormous shipments in Q3 2022. Their key growth drivers have been launching new products in response to client requirements, active involvement in sales events and successful marketing methods. Furthermore, Q3 saw a significant increase owing to holiday season sales and an emphasis on local production.
Moreover, In Q3, Chinese brands increased their market share to 13%. OnePlus drove this expansion by providing the Nord Buds CE at the lowest price in the whole TWS portfolio. Realme and Oppo also released new TWS cellphones, supporting the expansion of Chinese companies.
However, with the release of Apple’s Airpods Pro, worldwide businesses that primarily cater to the luxury segment of the Rs 5,000+ price range saw their rise accelerate (2nd-gen). According to the research, global brands grew by 91% sequentially and 9% year on year in Q3, led by Samsung, JBL, and Apple.
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