Smart TV Shipments in India Saw Decent YoY Growth in Q3 2022

With an 11% market share, Xiaomi dominated the Smart TV market in India, followed by Samsung (19%) and LG (9%). OnePlus and Vu held down the fourth and fifth spots, respectively, with 9% and 5% of the market. The three brands with the quickest growth in the market for Smart TVs in Q3 2022 were OnePlus, Vu, and TCL, according to Senior Research Analyst Anshika Jain.

Highlights

  • In the September quarter, shipments of Smart TVs from Indian brands increased at the quickest rate year over year, accounting for 22% of total shipments.
  • Global brands continued to dominate the market with a 40% share, followed by Chinese companies with a 38% share.
  • According to research analyst Akash Jatwala, newer models are progressively being released with Google TV, mostly in the >Rs 25,000 ($300) price range.

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In the September quarter, shipments of Smart TVs from Indian brands increased at the quickest rate year over year, accounting for 22% of total shipments. However, global brands continued to dominate the market with a 40% share, followed by Chinese companies with a 38% share. India's Smart TV shipments increased 38% year over year in Q3 2022, as reported in a Counterpoint Research report published on Friday. This growth was attributed to the holiday season supply to satisfy high pent-up demand, several new launches, discounts, and promotions.

India Smart TV Shipments by Top Brands, Q3 2022

With an 11% market share, Xiaomi dominated the Smart TV market in India, followed by Samsung (19%) and LG (9%). OnePlus and Vu held down the fourth and fifth spots, respectively, with 9% and 5% of the market. The three brands with the quickest growth in the market for Smart TVs in Q3 2022 were OnePlus, Vu, and TCL, according to Senior Research Analyst Anshika Jain. She added that LG's third-place finish was made possible by the introduction of new items in the Rs 20,000–Rs 30,000 market.

According to research analyst Akash Jatwala, newer models are progressively being released with Google TV, mostly in the >Rs 25,000 ($300) price range. The main advantages of Google TV are its user interface and content suggestions, as it can do so for a variety of streaming apps and YouTube, which Android TV can not offer. Regarding market trends, Jatwala added that 32 inches is still the most popular screen size, and Dolby Audio is growing more and more popular. In contrast, the mid-range is seeing a rise in popularity for screens that are 43 inches.

According to the research company, during the quarter, the share of Smart TV shipments in total rose to 93%, which is a record high. Due to more launches in the sub-Rs 20,000 pricing category, this is expected to rise. The online channels boosted their share of overall shipments to 35% throughout the quarter. During the most recent holiday season sales, major online platforms provided a range of promotions and discounts in addition to special releases, which aided in the growth of sales.

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Bhavya is very keen on learning about developments that take place in the tech and telecom industry. She is also someone whom you can sit with and talk about all the Netflix movies and series on science fiction.

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