The consumer electronics market has largely faced a negative trend back in 2022. This has even extended to the truly wireless earbuds market as well, with Oppo being the only brand to see growth in the fourth and final quarter of last year.
According to a Canalys report, the worldwide TWS shipments in Q4 2022 saw a sizeable decline of 23 percent year on year. During the last three months, the overall TWS market shipped over 79.5 million units over 104 million units in the same quarter back in 2021. This shows that consumer electronics ranging from smartphones to smartwatches and even truly wireless earbuds were impacted by the various supply chain issues and global economy seeing a decline.
During the period between October to December, Apple was still the market leader in the category despite seeing a noticeable 30 percent. Similarly, Samsung and Xiaomi also saw a drop of 24 percent and 49 percent respectively. On the other hand, Oppo was the only company to see a positive growth in this period with a rise of 11 percent year on year. Meanwhile, most other brands saw a decline.
According to Research Analyst Sherry Jin, “2023 will not be an easy year for vendors to recover. Faced with a constrained market, competition intensifies. Mainstream vendors are forced to fight for market share and strengthen differentiations to stand out, as consumers tighten their belts on spending.”
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