Q1: Smart TV Share In India's TV Market At 89%

Xiaomi led India's Smart TV market in Q1 2022 with a 14.3 per cent share, while Samsung and LG took the second and third spots respectively

By
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Smart TV share in India's overall TV market grew 33 per cent year-on-year(YoY) in Q1 2022 to reach its highest ever at 89 per cent, according to the latest research by Counterpoint's IoT Service.

pexels

Xiaomi led the smart TV market during the quarter with a 14.3 per cent share, followed by Samsung at 13.1 per cent. The increased preference for smart TVs along with sales growth in online channels were the major growth drivers. New launches from leading brands at affordable prices, along with discounts and promotions, also aided in the shipments.

"Xiaomi continued to lead the smart TV segment, followed by Samsung and LG. OnePlus reached its highest ever share due to the good performance of its Y1 series. Brands are putting more emphasis on the display aspect as there has been an increased preference for bigger display sizes. The display size range from 43 inches to 54 inches now contributes to almost one-third of the total smart TV shipments in India. In addition to this, an increasing number of models are being launched in the market with OLED and QLED technologies to enhance the user experience," said Anshika Jain, senior research analyst.

"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 offered from retailers. Besides, consumers are opting for enhanced specifications to get a better viewing experience, like sound system improvements and larger screen sizes. Online channels contributed to 31 per cent of the overall TV shipments with 30 per cent YoY growth. It had special discounts on TVs, which helped drive the overall volume. Flipkart dominated these channels," said Akash Jatwala, research analyst.