Wearables, True Wireless Earphones Getting COVID-19 Sales Bump

Wearables and smart hearable devices are benefiting from the pandemic, reported Canalys Monday, saying global wearable band and true wireless stereo device (TWS) shipments, pegged to grow 32% this year to a total 436.5 million, will be “more resilient against the pandemic” than smartphones. Shipments are forecast at 200 million for bands and 350 million for TWS devices in 2021. "The pandemic will prolong replacement cycles for smartphones,” said analyst Cynthia Chen, but the “lipstick effect” will drive consumers to spend on smaller, less costly items during an economic downturn. Consumers' attention to health and wellness has increased significantly during the pandemic, creating an opportunity for wearables from Xiaomi, Garmin, Fitbit and Huami, she said. Indoor activities including remote learning, working from home and home entertainment -- along with outdoor sports and recreation -- led to better-than-expected growth in TWS headphone shipments from companies including Apple, Samsung and JLab Audio.