Overview:

• Global TWS sales increased 21% YoY in H1 2024 . The market continues to show steady growth YoY, driven by the replacement cycle in matured markets and ongoing new demand in emerging markets. The Asia-Pacific region, excluding China, performed particularly well with India playing a significant role. The driving force behind this growth was the low ASP. As TWS manufacturers become more skilled, they are increasingly able to produce lots of devices with decent performance at affordable prices.
• Apple and Samsung tried to maintain their sales by offering discounts ahead of new product launches, but many customers held off on new model purchases. Moreover, many mid-tier brands took some market share from major brands due to their lower price.
• With growing interest in AI, major smartphone OEMs like Apple and Samsung are expected to push the AI features integrated into their smartphones and TWS devices. Samsung launched the AI-enabled Galaxy Buds, which provides real-time translation capabilities running on AI. The AirPods Pro will include hearing aid functionality, approved by the FDA and global health authorities, for users with mild to moderate hearing loss.