Local brands boAt, Noise and Mivi see record growth
New Delhi: The share of domestic manufacturing in India’s TWS (true wireless headphones) hit 16%, the highest on record, during the second quarter of June (Q2), according to a report. Local brands such as boAt, Noise, Mivi and pTron boosted their local manufacturing capabilities, accounting for 98% of domestic shipment volume in the second quarter, reports Counterpoint Research.Also Read – Andhra’s bride and family take boat ride to reach groom’s house due to flooding | look
“The ‘Made in India’ has been honored since the beginning of this year. But more brands started to focus on local manufacturing in this quarter. Gizmore and new entrant SWOTT also offered locally produced devices in Q2 2022,” said Anshika Jain, senior research analyst. Also Read – Amazon Mega Electronics Days Sale Ends May 24; Check for last minute deals to grab
Additionally, Counterpoint expects to see “Made in India” devices from Truke and Porttronics as they focus on localizing their manufacturing to maintain price competitiveness, she added. Also Read – BJP’s Manoj Tiwari Rides Boat in Toxic Moss Covered Yamuna in Delhi, Blames Kejriwal | look
Indian TWS (True Wireless earbuds) shipments had a strong quarter with 168% growth (year-on-year) and quarterly growth of 62%. “The market is expected to grow 47% in 2022 as new brands continue to arrive even as existing ones expand their presence,” Jain said.
boAt Tops List in Wireless Headphones
In the second quarter, local brands won the top five brand ranking for the first time. These brands together took more than 70% share and were quite aggressive in their marketing strategies, introducing new advanced alternatives at affordable prices as well as discount programs through various sale events, according to Jain.
The first 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 higher quality products.
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