According to a Counterpoint Research report, the smart TV market in India witnessed 74 per cent growth year-on-year in the first half of 2022. The research firm suggests that the launch of smaller-sized smart TVs in the sub-Rs 20,000 price segment and promotional offers from retailers and brands attributed to the growth of the smart TV market in the country.
The report notes that the top five brands – Xiaomi, Samsung, OnePlus, LG and TCL – contributed 45 per cent of the shipments. Out of these five, Xiaomi led the market with a 13 per cent share, followed by Samsung, which constituted 12 per cent of the market in Q2 2022.
OnePlus, which came in at the third position for the first time, recorded the highest-ever growth in the smart TV segment. The company witnessed a 123 per cent year-on-year increase in shipments in the first half of the year. Anshika Jain, a Senior Research Analyst at Counterpoint, says that the popularity of the OnePlus’ Y1 series of smart TVs, with strong marketing efforts, helped the company grow to the third position.
Meanwhile, LG and TCL secured fourth and fifth spots with respective market shares of 7.5 per cent and 5 per cent.
The Counterpoint analyst further notes that most launches in the second quarter of the year happened in the 32-inch smart TV segment priced below Rs 20,000. The shipments of 32-inch television grew by 94 per cent year-on-year, with a market share of 47 per cent in Q2 2022.
Jain says that the smart TV segment in the country is growing as customers’ preference for smart TVs are increasing with more affordable options now being available in the market. The analyst believes the shipments will continue to grow in the future.
The report notes that the top five brands – Xiaomi, Samsung, OnePlus, LG and TCL – contributed 45 per cent of the shipments. Out of these five, Xiaomi led the market with a 13 per cent share, followed by Samsung, which constituted 12 per cent of the market in Q2 2022.
OnePlus, which came in at the third position for the first time, recorded the highest-ever growth in the smart TV segment. The company witnessed a 123 per cent year-on-year increase in shipments in the first half of the year. Anshika Jain, a Senior Research Analyst at Counterpoint, says that the popularity of the OnePlus’ Y1 series of smart TVs, with strong marketing efforts, helped the company grow to the third position.
Meanwhile, LG and TCL secured fourth and fifth spots with respective market shares of 7.5 per cent and 5 per cent.
The Counterpoint analyst further notes that most launches in the second quarter of the year happened in the 32-inch smart TV segment priced below Rs 20,000. The shipments of 32-inch television grew by 94 per cent year-on-year, with a market share of 47 per cent in Q2 2022.
Jain says that the smart TV segment in the country is growing as customers’ preference for smart TVs are increasing with more affordable options now being available in the market. The analyst believes the shipments will continue to grow in the future.
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