New Delhi
A recent report from Canalys reveals that global smart personal audio shipments experienced a 3% year-on-year decline, totaling 110 million units in Q3 2023. Developed regions faced challenges, while emerging regions demonstrated strong growth. True Wireless Stereo (TWS) devices constituted 73% of shipments, steadily penetrating affordable mass-market segments. Apple secured the leading position in the global market, with 23.4 million units and a 21% market share. Following closely were Samsung and the Indian brand boAt. Interestingly, shipments of wireless headphones surpassed those of wireless earphones for the first time. This shift was attributed to vendors seeking stronger revenue drivers through wireless headphones, leading to wireless earphones being replaced by TWS (True Wireless Stereo) devices. The report highlighted that alternative wearable forms, such as air and bone conduction devices, contributed to less than 2% of shipments in the third quarter. The decline in Q3 was partially attributed to vendors strategically opting to skip yearly flagship releases, prolonging refresh cycles after prioritizing premium models, according to Jack Leathem, a Research Analyst. In the rapidly growing Chinese market, Huawei emerged as a key player, leveraging its strong smartphone growth to cross-sell ecosystem devices. Huawei experienced a remarkable 30% growth in shipments compared to Q3 2022. Looking ahead, Canalys anticipates a growth rebound in Q4, fueled by inventory replenishment and holiday shopping season deals. Improved economic conditions and anticipated flagship portfolio launches from Apple and Samsung are expected to further boost the market in 2024. Canalys estimates a 3.3% increase in total shipments for 2024 compared to 2023.
