Made In India Brand Boat Beats Xiaomi, Apple To Become #1 In Wireless Earbuds Market In India!
As revealed by a new report, the shipments of true wireless stereo (TWS) earbuds have observed a huge spike in the third quarter of 2020.
This study has been conducted by the research firm, Counterpoint, and Boat Lifestyle has emerged as the top of the list, defeating Xiaomi and Realme.
Read on to find out all the details!
Counterpoint Research Shows Market Of TWS Earbuds in India Increases By 723%
As per the latest data from Counterpoint Research, the overall market of TWS in India increased by a whopping 723% YoY in Q3 2020. Boat, the brand that has topped the list has had an 18% share in Q3, whereas, Xiaomi and Realme have come in second and third. Their market shares are 16% and 12% respectively.
However, the market share of these companies seen a dip. Xiaomi’s market share has dropped from 20% and Realme’s market share has fallen 10%, which was 22% in the second quarter of 2020. As per the research by Counterpoint, the fall in the market share of Realme is due to the absence of the launch of any new products in the third quarter.
On the fourth and fifth positions are JBL and Apple, with a market share of 8% and 6% respectively.
Research Associate Anam Padha said, “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.”
Xiaomi’s Redmi Earbuds 2C Become The Best-Selling TWS
In terms of individual products, Xiaomi’s Redmi Earbuds 2C has been the best-selling TWS earbuds in the last quarter, whereas, the Boat Airdopes 441 came in second. Following them are the Buds Q and the Buds Air Neo by Realme, and 2nd-gen Airpods from Apple, which stand third, fourth, and fifth respectively.
Counterpoint analyst Shilpi Jain has said, “The smartphone OEMs have managed to carve a significant place for themselves in the segment by leveraging their already established brand awareness and sales channels.”
As per reports, the top three brands have made up for as much as almost half of the total shipments in the third quarter of 2020.