India TWS shipments cross 1 cr in Q4 2020, BoAt leads

Overall, India's TWS market posted a massive 641 per cent (on-year) growth in the festive quarter, with shipments crossing the 1 crore mark, according to the latest research from Counterpoint's IoT service.

New Delhi: Homegrown audio brand BoAt maintained its leading position in the TWS (true wireless stereo) market in the Q4 2020 with 43 per cent growth and increasing its share to 30 per cent, a new report said on Monday.

Overall, India’s TWS market posted a massive 641 per cent (on-year) growth in the festive quarter, with shipments crossing the 1 crore mark, according to the latest research from Counterpoint’s IoT service.

With 12 per cent share, OnePlus was second on the list. Launching a new model, the OnePlus Z, during the festive season and offering a special pre-order price helped it become the top-selling model with 9 per cent share.

realme maintained its third spot with 10 per cent market share. Its Buds Q model continued to have a huge demand and rose to the second spot in the top five list for Q4 2020

Xiaomi was fourth with 7 per cent market and its Redmi Earbuds 2C held spot in the top five list within the initial quarter of launch.

“Key players like Xiaomi and OnePlus were seen carving a niche for themselves by offering new launches at affordable price points and with better features like water resistance, ANC and USB Type-C,” explained Research Associate Anam Padha.

At fifth spot, domestic earwear audio company pTron bounced back strongly by catering the demand with multiple new launches during the festive season at a highly competitive price.

“With the PLI scheme being extended to the CIOT segment, including hearables and wearables, a major push will be witnessed from the existing OEMs to strengthen their ‘Make in India’ capabilities and expand their product portfolios,” said Research Analyst Shilpi Jain said.

The average selling point (ASP) for TWS in the India market declined 18 per cent in Q4 driven by many affordable launches.

“In 2020, the ASP declined by almost 50 per cent compared to 2019,” Jain added.