Smart TV share in India’s TV market surged to a record high driven by rising consumer preference of Smart TVs over traditional TV sets, growing Internet access , online sales growth and new launches from leading brands at affordable prices with discounts and promotions.
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Share of Smart TVs reached its highest ever at 89% growing 33% in Q1 2022 from the same time in the previous year, according to research firm Counterpoint.
“The smart TV market is showing immense growth driven by the rising demand for home entertainment, a wide variety of affordable launches, an increase in broadband penetration, and multiple discounts offer from retailers. Besides, consumers are opting for enhanced specifications to get a better viewing experience, like sound system improvements and larger screen sizes,” Akash Jatwala, research analyst at Counterpoint said in blog post.
Xiaomi led the smart TV market with a 14.3% share, followed by Samsung and LG. OnePlus reached its highest ever share due to the good performance of its Y1 series.
TVs in the price range of ₹10,000 to ₹20,000 captured over 40% share in the overall TV market, Counterpoint estimated.
However, the share of TVs with a screen size of 43 inches and above is increasing as people are shifting to bigger screens. The display size range from 43 inches to 54 inches now contributes to almost one-third of the total smart TV shipments in India, Counterpoint said.
Published - June 17, 2022 02:38 pm IST
