“Made in India has been in the spotlight so far this year, but this quarter we saw more brands focus on local production. We provided locally produced devices,” said senior research analyst Anshika Jaina. Additionally, Counterpoint is looking to “Made in India” equipment from Truke and Portronics as it focuses on localizing manufacturing to remain price competitive, she added.
India’s TWS (true wireless earbuds) domestic manufacturing share reached a record high of 16% in the June quarter, the report said. Private brands such as boAt, Noise, Mivi and pTron have expanded their local manufacturing capacity and accounted for 98% of his domestic shipments in the second quarter, according to Counterpoint Research.
Highlights
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In the second quarter, domestic brands dominated the top five brand rankings for the first time. According to Jain, these brands collectively capture more than 70% market share and are very aggressive in their marketing strategies.
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Her TWS (True Wireless Earbuds) shipments in India had a strong quarter with 168% (YoY) growth and 62% QoQ growth. “The market is expected to grow by 47% in 2022 as new brands continue to enter the market and existing brands expand their presence in the channel,” said Jain.
Introducing new and advanced options at affordable prices and offering discounts through various sales events introduced. BoAt, Noise, and Boult Audio came out on top. Mivi is included in the Top 5 list for the first time due to its focus on R&D and creating quality products.