Economy

Global TWS sales increased 44% YoY in Q1 2021: Report

Our Bureau Mumbai | Updated on June 05, 2021

China witnesses highest YoY growth

Global TWS unit sales grew 44 per cent YoY in Q1 2021, according to Counterpoint Research’s latest Global Hearables (TWS) Market Report.

China witnessed the highest growth YoY while North America continued to occupy the largest share, as per the report.

As for the top players, Apple maintained its lead, but its share declined due to the intensified competition and the absence of a recent new model launch. Xiaomi held the second spot but it also lost its share slightly compared to the previous quarter. Samsung, however, expanded its share QoQ and narrowed the gap with second place.

As for the price range, the share of the over-$100 segment declined through 2020 as more consumers decided to go with the mid-range and budget TWS amid the pandemic.

However, the segment’s share slightly recovered in Q4 2020 and reached 46 per cent in Q1 2021 indicating a shift in focus to the mid-to high-price segment slowly.

Senior Analyst Liz Lee said, “Now is the time for companies to prepare for the change in consumer demand trends as vaccinations are expected to help consumer sentiment improve further in the second half of the year.”

In the over-$100 segment, Apple maintained its lead with 57 per cent share, followed by Samsung at 17 per cent.

In the sub-$100 segment, the top 10 brands, including Xiaomi, lost their share due to the diversification of industry participants and intensifying competition. Samsung managed to perform well in Q1 2021.

Lee said, “In highly competitive markets like Asia and Europe, Samsung achieved a double-digit share with good performance of all the models. Samsung successfully introduced the Galaxy Buds Pro, timed to connect with the launch of the Galaxy S21 in January. The company also pushed the sales of earlier models like the Galaxy Buds Live and Plus through aggressive marketing promotions.”

“Skullcandy is another notable brand with growth potential across low- to mid-end TWS hearables. The brand is now expanding its market, especially in the sub-$100 segment in the US, through favourable responses for new budget models such as the Dime and Dime XT. The steady sales of earlier models like the Indy ANC and Sesh Evo are also helping,” Lee added.

Published on June 05, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.