According to a report by Counterpoint Research, India’s smart TV market recorded 38% year-on-year growth in shipments in the July-September quarter mainly due to seasonal supply. festivals, many new product launches, discount events and promotions.
Follow reportIndia’s smart market leader global brand television segment with 40% market share, followed by Chinese brands with 38% market share. While Indian brands showed the fastest growth, doubling their market share to 22% in total smart TV shipments.
“The share of smaller-sized TVs is growing, with 32-inch to 42-inch screens accounting for about half of total shipments during the quarter. While LED screens remain the preferred choice, technologically advanced displays are still on the rise. Advances like OLED and QLED are gaining ground,” the report said.
Now, more models are being launched with QLED displays. Besides, Dolby Audio and better speakers are other features that are being offered more and more by brands.
“Smart TV penetration in total shipments reached an all-time high of 93% during the quarter,” the report said, adding that this penetration is expected. ​will increase further due to more launches in products under Rs. Price range 20,000.
During the quarter, the contribution from online channels to total shipments increased to 35% as all major e-commerce platforms offered various promotions and discounts, along with exclusive launch, during the recent holiday season sale.
Xiaomi (which include Redof market share) continued to lead the smart TV market in Q3 2022 with 11% market share, followed by SAMSUNG with 10% shares and LG with 9 percent.
During the quarter, OnePlus up 89% year-on-year, capturing 8.5% market share in smart TV shipments.
While the market share of the homegrown VU brand more than doubled in the third quarter of 2022, the report added.
According to the report, many new Indian brands are entering the highly competitive smart TV market.
“OnePlus, Vu and TCL were the fastest-growing brands in the smart TV segment in Q3 2022,” said Anshika Jain, senior research analyst at Counterpoint.
Once again, LG has won the third place thanks to the introduction of new models, especially at the price of Rs. 20,000- Rs. Price range 30,000. Other emerging brands in the top 10 include Myself and HaierShe added.
