Samsung Electronics Co. is expected to stay on as the world's third largest vendor of true wireless stereo (TWS) products, including wireless earbuds, for this year as competition heats up in the fast-growing hearables market, a report showed Thursday.

Samsung's market share in 2021 was estimated to stay unchanged at 7 percent and sit behind its rivals Apple Inc. and Xiaomi Corp., according to market tracker Counterpoint Research.

The South Korean tech giant, which makes Galaxy Buds in-ear devices, was projected to sell around 22 million units of TWS products this year, the report showed.

Apple was expected to defend its top position despite its market share decline from 31 percent to 27 percent. China's Xiaomi was projected to see its presence remain the same as last year at 9 percent.

The global TWS market was projected to grow 33 percent on-year in 2021 to reach 310 million units, according to Counterpoint Research, with demand for high-end products likely to explode after the third quarter of the year.

"As COVID-19 will unlikely ease in a short time despite the spread of vaccination, the pent-up demand for high-end TWS is not expected to explode until late Q3 2021," the market researcher said.

"Therefore, major top brands such as Apple are likely to launch next-generation products and make aggressive moves from Q4 onwards this year, which will boost the TWS market further. However, the high growth of the low- to mid-end segment will remain unchanged through the year." (Yonhap)