India Smart TV Market Grows 28%, Homegrown Brands Capture 24% Share: Report

India’s good TV shipments grew 28 per cent (on-year) in 2022 and homegrown manufacturers confirmed the quickest development, with a market share of 24 per cent in good TV shipments, a report confirmed on Tuesday.

Smart TV contribution to total TV shipments was over 90 per cent, the very best ever, based on Counterpoint Research.

More than 99 per cent of the TVs at the moment are being assembled domestically, with some high-end TVs being imported.

Xiaomi continued to guide India’s good TV market with an 11 per cent share, adopted by Samsung and LG.

“Consumers are preferring greater display screen sizes, particularly 43-inch, as a consequence of which the good TV shipments on this show dimension grew 29 per cent YoY in 2022. This dimension has additionally began trickling all the way down to the price range value vary,” said research analyst Akash Jatwala.

Dolby integration is another most sought-after feature and is available in lower-price TVs too.

“On the operating system side, Google TV grew multifold and was available in 4 per cent of the smart TVs shipped during the year,” he added.

OnePlus, Vu, and TCL have been among the many fastest-growing manufacturers within the good TV phase in 2022.

“Smart TV shipments within the Rs 20,000-Rs 30,000 value band grew 40 per cent YoY to succeed in a 29 per cent share. The common promoting value (ASP) declined 8 per cent YoY to round Rs 30,650,” said senior research analyst Anshika Jain.

Non-smart TV shipments declined 24 per cent YoY in 2022 and online channels increased their contribution to the total shipments to 33 per cent during the year.

MediaTek chips had around a three-fifths share of the total TV market during the year, the report said.

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(This story has been edited by News18 workers and is revealed from a syndicated news company feed)