STAR-listed Anker sounds upbeat on sub-brand in China
STAR-listed Anker Innovations Technology is expanding into the premium headphone market in China to meet the booming demand for fitness and health care, virtual reality and eSports.
Anker, which sells smart electronics, including iPhone chargers, is betting on growth in the domestic market this year after its rapid expansion in overseas markets such as the United States and Europe.
Shanghai is now the top regional market for Anker China as it looks to develop its sound sub-brand Soundcore in the city and nationwide, Wang Shiyuan, president of Anker China, said in Shanghai.
Anker, now listed in the Shanghai STAR Market with a market value of 26 billion yuan (US$3.76 billion), is the parent firm of Soundcore.
Globally speaking, Soundcore is one of the top 10 headphone brands, already a competitor of brands like Beats, Bose and Sony. It has penetrated with mid- and high-end products which cost over US$100.
The company has launched products like Liberty 4 with high-quality sound, noise canceling and new heart rate sensor features. Meanwhile, its VR P10 products support various VR devices, including Pico, a Chinese VR device brand controlled by ByteDance, the parent of short-video platform Douyin, the Chinese version of TikTok.
In the consumer market, VR device spending will hit US$20 billion by 2027, triple the spending in 2022. The market is fueled by VR headsets, headphones and VR content, according to researcher Omida.