Apple and Samsung Step Aside... 2Q Wireless Earbuds Led by Low-Cost Chinese Products

Global Wireless Earbuds Market Grows 15% Year-on-Year
Growth Driven by Low-Cost Models Under $50

Q2 Global Wireless Earbuds Market Share by Company, Source=Counterpoint Research

[Asia Economy Reporter Cha Min-young] The global wireless earphone market in the second quarter of this year grew by 15% year-on-year and 13% quarter-on-quarter. Instead of Samsung and Apple, low-cost models such as China's Xiaomi and QCY led the growth.

According to the recent Wireless Earphone Market Tracker released by global market research firm Counterpoint Research on the 9th, global wireless earphone shipments grew 13% quarter-on-quarter and 15% year-on-year. Although overall demand for IT devices declined due to rising prices, low-cost models led the wireless earphone market growth.

Low-cost models were relatively less affected by inflation fears, and in emerging markets such as India, Latin America, and the Middle East and Africa, the wireless earphone market grew quarter-on-quarter centered on low-cost models. However, the Chinese market continues to face difficulties due to economic recession and aggressive COVID-19 containment policies.

Counterpoint Research analyzed that fears of economic recession have led consumers to show interest in affordable wireless earphones, providing good opportunities for mid-to-low-end brands like Xiaomi, QCY, and Skullcandy. For example, Xiaomi achieved significant results with a wide range of models focused on low-cost products, leading the market under $100.

On the other hand, sales of products priced over $100 noticeably contracted. As the Russia-Ukraine war prolongs, demand for new IT devices has decreased. Major brands like Apple and Samsung saw sales decline quarter-on-quarter due to the economic downturn and waiting demand for new pro models to be released in the second half of 2022.

However, Apple is expected to rebound in the second half of 2022. The 'AirPods Pro 2,' unveiled on the 7th (local time in the U.S.), strengthened its Active Noise Cancelling (ANC) feature, which is expected to drive replacement demand for the predecessor released in 2019. Samsung's 'Galaxy Buds 2 Pro' is also anticipated to receive favorable reviews for its high sound quality and ANC. Although Samsung raised the price somewhat, it remains about $20 cheaper than the AirPods Pro model, which is a strength.

This content was produced with the assistance of AI translation services.