Thursday, October 6, 2022

Local manufacturing in India’s TWS earbuds sector reaches record 16% – ET Telecom

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New Delhi: The share of domestic manufacturing in India’s TWS (true wireless earbuds) reached 16 per cent, the highest ever, in the June quarter (Q2), a report has said.

Homegrown brands like boAt, Noise, Mivi and pTron ramped up their local manufacturing capabilities, accounting for 98 per cent of the domestic shipment volume in Q2, reports Counterpoint Research.

“‘Made in India’ has been taking the spotlight since the beginning of this year. But more brands started focusing on local manufacturing during this quarter. Gizmore and new entrant SWOTT also offered locally produced devices in Q2 2022,” said senior research analyst Anshika Jain.

Further, Counterpoint expects to see ‘Make in India’ devices from Truke and Portronics as they focus on localising their manufacturing to maintain price competitiveness, she added.

India’s TWS (True Wireless earbuds) shipments delivered a strong quarter with 168 per cent (year-on-year) growth and 62 per cent quarterly growth.

“The market is expected to grow 47 per cent in 2022 as new brands continue to arrive even as existing ones expand their channel presence,” said Jain.

During Q2, homegrown brands captured the top five brands rankings for the first time.

These brands together took over 70 per cent share and were quite aggressive in their marketing strategies, introducing new advanced alternatives at affordable prices along with discount schemes through various sales events, according to Jain.

The top position was taken by boAt, followed by Noise and Boult Audio.

Mivi entered the top five list for the first time, due to its focus on R&D and designing better-quality products.



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