Phone companies have been expanding their product portfolios beyond smartphones with smartbands and TWS earphones particularly hot lately. According to Canalys, the smart accessories market will record 32% growth by the end of 2020 and an additional 28% increase in 2021. The total amount of wearable bands and TWS devices will reach 558 million in 2021 and 760 million by the end of 2024. According to Cynthia Chen, bands and earbuds have been more resilient than smartphones to the pandemic. It is due to the so-called “lipstick effect” that drives consumers purchasing smaller, less...
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