New Delhi, Nov 17 (IANS) India’s TWS (True Wireless Stereo earbuds) shipments doubled year-over-year in Q3 2022, with boAt leading the quarter, a report showed on Thursday.
According to Counterpoint Research, boAt grew 128 per cent (year-over-year) to mark its nine successive quarters of lead, while Noise stood second for the fourth consecutive quarter, and OnePlus bounced back strongly in the top-five rankings with a 6 per cent share in Q3.
“The top five TWS brands in India – boAt, Noise, Mivi, OnePlus and Boult Audio — accounted for almost 70 per cent of the total shipments. OnePlus made a comeback in the top five driven by two recent launches — Nord Buds and Nord Buds CE — at an affordable price point,” Senior Research Analyst Anshika Jain said in a statement.
Indian brands grew 143 (year-over-year) in Q3 driven by boAt, Noise, Mivi, Boult Audio and Ptron, while Chinese brands saw an increased share of 13 per cent in Q3.
“Indian brands showed the fastest year-over-year growth of 143 per cent to reach their highest shipments ever in Q3 2022,” Jain added.
Moreover, domestic manufacturing saw a record 288 per cent quarterly growth this year, contributing to 34 per cent of the total shipments, while the Online channel maintained 79 per cent of the volume with Flipkart in the lead.
“It is still challenging for brands to strengthen their presence in offline channels, as a huge share of 79 per cent still comes from the online market. In addition, the TWS online segment has a strong footprint on Flipkart, which has more than half of the total online shipment share,” Associate Research Director Liz Lee said in a statement.