New Delhi: The global true wireless stereo (TWS) earphone market’s unit sales slipped only 2 per cent (year-on-year) in the first half of this year, as entry-level (less than $50) segment continued to grow across emerging markets, primarily India, a report showed on Tuesday.
In India, local TWS brands such as boAt, Boult Audio and Noise reported strong double-digit YoY growth in Q2 2023 driven by a broader portfolio of entry-level models, according to the report by Counterpoint Research.
boAt successfully leveraged online shopping events like Amazon Prime Day, Flipkart Big Saving Days, and other online promotions to fulfill the demand for new affordable models.
Boult Audio, with a keen focus on affordability, strategically launched a series of new models priced below $25, effectively drawing in customers.
Noise‘s major model series, the Noise VS102 and VS404, were well received due to their affordable price, satisfactory sound quality, and long battery life.
Additionally, they offered an up to 80 per cent discount on their audio products during the Noise Anniversary Sales in 2023.
The enhanced performance of models in the $25 and below (retail price) segment also played a significant role in boosting sales, the report mentioned.
Looking forward, the global TWS market’s sales volume is set to grow by 2 per cent YoY in 2023, but revenue will decrease by 3 per cent YoY.
“We expect the TWS market to keep growing till 2026 and the attach rate to new smartphone sales to reach 36 per cent as the average lifespan of a TWS device before replacement reaches 1.5-1.8 years,” the report mentioned.
–IANS