Samsung Electronics Company’s upcoming wireless earbuds are expected to be cheaper than their previous model by a significant margin. An earlier report had mentioned that the Galaxy Buds 2 price could be lower by 15% compared to the Galaxy Buds Pro in Europe. Market Researcher Counterpoint Research has said that the new set of earbuds are likely to be cheaper than the Galaxy Buds Pro earbuds released in January
“Features-wise, I don’t expect to see major differences from the Galaxy Buds Pro,” said Liz Lee, a senior analyst at the market research farm. “We’re expecting a 10-20 percent price cut from the latest Galaxy Buds Pro, which would put things in the $160-$180 range.”
Samsung’s market share may increase
Lee predicts that if the sales for the Galaxy Buds 2 go well, Samsung‘s market share in the wireless earbuds category could reach a record high of 18%, if not more.
“The biggest determinant of whether that will happen is what price the Galaxy Buds 2 comes in at,” Liz said. “If it’s the lower end of our expectations, then we’ll look to increase our volume forecasts accordingly.”
Samsung to face competition from Apple & other players
Lee also pointed out that Samsung has outpaced overall growth in the $100 and above earbuds segment since the third quarter of 2020 but is likely to face a significant challenge when AirPods 3 come out.
“The second half does carry a risk for Samsung, as the new AirPods 3 release will be the first in over two years, so there will be many upgraders and pent-up demand,” Lee said. “Apple also has the luxury of reacting to any pricing surprise from Samsung, and leverage of its always strong features and a possible launch timing paired with the iPhone 13.”
Along with the looming threat that AirPods 3 might bring over the market shares of the Galaxy Buds 2, there also come The Beats Studio Buds and Nothing Ear (1). Both have been recently launched with active noise cancellation, for $149 and $99, respectively, thus being potentially strong competitors to Samsung Galaxy Buds 2.
Samsung Galaxy Buds 2 is one of the few products expected to be unveiled at Samsung’s Unpacked event on Wednesday, along with their newer generation of foldable smartphones.