India's smart TV shipments up by 38% YoY: Report

A new report from Counterpoint, the global mobile and technology research firm, has found that smart TV shipments in India grew 38 percent YoY in Q3 2022. The research was led by the company's IoT service team.

TVs with 32-inch and 42-inch displays made up the bulk of the sales, accounting for half of the total shipments in the quarter. LED Displays remained the first choice among consumers but OLED and QLED displays were also gaining ground.

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Xiaomi continued to maintain pole position with 11 percent of the total share in Q3 2021. Samsung held its own in the second spot with a 10 percent share. LG, meanwhile, accounted for 9 percent share of the total market.

OnePlus had a strong showing, growing 89 percent YoY to take 8.5 percent of the market. Finally, VU doubled its shares in Q3 2022 to take 5 percent of the market.

"OnePlus, Vu and TCL were the fastest growing brands in the smart TV segment in Q3 2022. Xiaomi led the overall smart TV market with an 11 percent share, followed by Samsung," said Anshika Jain, Senior Research Analyst at Counterpoint.

"LG once again secured the third spot due to the introduction of new models, especially in the INR 20,000-INR 30,000 ($250 – $400) price range. Other emerging brands in the top 10 included realme, Sony and Haier.”

The growth was driven by various discounts and promotions during the festive season, along with exclusive launches on major online e-tailers.

Smart TV penetration reached its highest ever share at 93 percent during Q3 2022. Counterpoint said that the number will go up after more launches in the sub-Rs 20,000 range. Online channels also reported a growth of 35 percent in shipments during the period.