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Friday, December 02 2022

Samsung loses top spot in Indian earwear market in Q2

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Seoul: Samsung Electronics lost its top spot in India’s ear-worn device market in the second quarter of the year, a report has shown, as its rival brands expanded their presence.

The South Korean tech giant registered a market share of 7.9 per cent in the April-June period, sharply down from their 30.4 per cent share a year earlier, settling for the third position in the Indian earwear market, according to industry researcher International Data Corporation (IDC).

Samsung’s shipment of smart earwear products, including wireless earbuds, neckbands and headphones, plunged 44.6 per cent year-on-year, as Indian consumers apparently opted to buy devices from homegrown companies, reports Yonhap news agency.

“The homegrown brands have a strong dominance as their share has reached 71.5 per cent in 2Q21 from just 31.2 per cent in 2Q20,” IDC said.

BoAT, an electronics brand from India-based Imagine Marketing Private Ltd., became the dominant player after its market share more than doubled to 45.5 per cent in the second quarter, with its shipment of ear-worn devices posting a whopping 424 per cent on-year increase.

OnePlus, an electronics brand from China’s BBK Electronics Corp., took the runner-up spot with a market share of 8.5 per cent, up from 5 per cent a year ago, after its shipment grew 264.2 per cent on-year.

Its compatriot Realme slipped to the fourth spot with a market share of 5.5 per cent, down from 14.3 per cent a year earlier.

The earwear market in India expanded 113.1 per cent on-year to 9.2 million units in the second quarter and remained as the largest category in wearable products, IDC data showed.

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