According to a Opposite study reported, the smart TV market in India witnessed a growth of 74% year-on-year in the first half of 2022. The research firm hints that the launch of small-sized smart TVs in the sub-Rs 20,000 price segment and promotions from retailers and brands attributed to the growth of the domestic smart TV market.
The report notes that the top five brands – Xiaomi, SAMSUNG, OnePlusLG and TCL – contribute 45% of the shipment. Of these five, Xiaomi led the market with 13% market share, followed by Samsung, which accounted for 12% of the market in Q2 2022.
OnePlus, which came in at third for the first time, recorded its highest growth ever in the smart TV segment. The company saw shipments increase 123% year-on-year in the first half of the year. Anshika Jain, Senior Research Analyst at Counterpoint, says that the popularity of OnePlus’ Y1 smart TV series coupled with strong marketing efforts has helped the company grow to third place.
Meanwhile, LG and TCL won the 4th and 5th place with a market share of 7.5% and 5% respectively.
The Confrontation The analyst further noted that most of the launches in the second quarter of the year occurred in the 32-inch smart TV segment priced under Rs 20,000. 32-inch TV shipments grew 94% year-on-year, with a market share of 47% in Q2 2022.
Jain says that the smart TV segment in the country is growing due to the growing consumer preference for smart TVs with more affordable options now available in the market. The analyst believes that shipments will continue to increase in the future.
The report notes that the top five brands – Xiaomi, SAMSUNG, OnePlusLG and TCL – contribute 45% of the shipment. Of these five, Xiaomi led the market with 13% market share, followed by Samsung, which accounted for 12% of the market in Q2 2022.
OnePlus, which came in at third for the first time, recorded its highest growth ever in the smart TV segment. The company saw shipments increase 123% year-on-year in the first half of the year. Anshika Jain, Senior Research Analyst at Counterpoint, says that the popularity of OnePlus’ Y1 smart TV series coupled with strong marketing efforts has helped the company grow to third place.
Meanwhile, LG and TCL won the 4th and 5th place with a market share of 7.5% and 5% respectively.
The Confrontation The analyst further noted that most of the launches in the second quarter of the year occurred in the 32-inch smart TV segment priced under Rs 20,000. 32-inch TV shipments grew 94% year-on-year, with a market share of 47% in Q2 2022.
Jain says that the smart TV segment in the country is growing due to the growing consumer preference for smart TVs with more affordable options now available in the market. The analyst believes that shipments will continue to increase in the future.
