“Emerging markets such as India, MEA and Latin America grew quarter by quarter, driven by lower-end models, while China continued to struggle from deteriorating economic conditions and the COVID-19 zero policy.” Overall growth of his TWS market globally in Q2 2022 was particularly weak year-on-year due to Covid-19 and weak macroeconomic indicators.
Global shipments of true wireless (TWS) hearables grew 13% quarter-over-quarter and 15% year-over-year in the second quarter of this year, driven by lower-end models in the sub-$50 segment. Entry-level models are unaffected by inflation fears, according to the latest data from Counterpoint Research.
Highlights
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The price increase will be a big hurdle for the new Galaxy Buds Pro model, but it’s still about $20 cheaper than the AirPods Pro model. “If Samsung manages to get decent sales on the price hike, it could be a milestone for its premium brand image in the TWS market,” reads the report.
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Xiaomi, in particular, has benefited greatly from its broad, entry-level focused portfolio, which leads the sub-$100 segment. The brand has also done well with the device replacement cycle. “Apple is expected to recover in the second half of 2022. The upcoming Airpods Pro 2 are the only alternatives to ANC-enabled Airpods, so the former could absorb demand for the latest iteration released in 2019. There is a possibility,” Singh said. Samsung’s Galaxy Buds 2 Pro should also be well received for their high sound quality and excellent ANC.