In accordance with a Counterpoint Analysis report revealed on Thursday, true wi-fi stereo (TWS) shipments in India elevated by twofold within the third quarter of 2018 because of the festive season stock wanted to satisfy the excessive pent-up demand, quite a few new launches, and reductions.
In accordance with the report, Indian TWS manufacturers skilled robust third-quarter progress of 143% yr over yr, led by BoAt, Noise, Mivi, Boult Audio, and Ptron, which collectively accounted for 79% of the market.
All the new entrants within the quarter have been native manufacturers, based on Counterpoint (Mobatree, 5 Components, Duffer, and Lyne). In accordance with the assertion, these Indian manufacturers collectively held a 95% market share within the sub-Rs 2,000 worth vary.
Chinese language manufacturers, nonetheless, noticed an increase in market share, reaching 13% in Q3. Realme and Oppo additionally launched new TWS merchandise to assist the expansion of Chinese language manufacturers. OnePlus was the driving power behind this progress by providing its Nord Buds CE on the lowest worth in its complete TWS portfolio.
Lastly, with Apple’s launch of the AirPods Professional, worldwide manufacturers that primarily serve the premium phase of the Rs 5,000 and above worth vary accelerated their progress. In accordance with the report, Samsung, JBL, and Apple have been the primary drivers of the general 9% sequential progress and 91% year-over-year progress skilled by world manufacturers in Q3.
“The highest 5 TWS manufacturers in India – boAt, Noise, Mivi, OnePlus and Boult Audio – accounted for nearly 70% of the overall shipments. OnePlus made a comeback within the high 5 pushed by two current launches – Nord Buds and Nord Buds CE – at an reasonably priced worth level,” mentioned Senior Analysis Analyst Anshika Jain.
She credited the vacation season and a give attention to native manufacturing for the quarter’s strong progress. In accordance with the analysis firm, home manufacturing noticed a report 288% quarterly progress this yr, accounting for 34% of all shipments.
In accordance with Jain, the highest 10 TWS fashions accounted for 41% of all TWS shipments. She added that almost all of those fashions catered to the low-mid worth vary (Rs1,000-Rs 3,000).
In response, Affiliate Analysis Director Liz Lee identified that it’s nonetheless troublesome for manufacturers to extend their presence in offline channels as a result of a large portion (79%) nonetheless comes from on-line channels.