
India’s good TV shipments recorded double-digit progress of 28 p.c in 2022, which was led primarily by the festive season within the third quarter of a number of new launches, low cost occasions, and promotions, mentioned a Counterpoint Analysis report.
Furthermore, demand for larger screen-size TVs within the cheaper price tier additionally fueled the expansion, it mentioned.
Whereas within the December quarter, after the competition gross sales, good TV shipments have been nearly flat at 2 p.c Yr-on-Yr (YoY) as a consequence of a slowdown in demand.
Sensible system maker Xiaomi continued to guide India’s smart TV market in 2022 with an 11 p.c share.
This was adopted by Samsung, LG, OnePlus and TCL, respectively within the fast-growing Indian good TV market.
OnePlus and TCL have been among the many fastest-growing good TV manufacturers in 2022, mentioned the Counterpoint Analysis report.
Whereas Sony was among the many most well-liked manufacturers within the premium section.
In 2022, over 99 p.c of the TVs have been assembled domestically, whereas just some high-end TV units have been imported by the manufacturers, it mentioned.
Furthermore, 96 p.c of the market is being pushed by LED TVs, and MediaTek chips had round a three-fifths share of the whole TV market in the course of the 12 months.
Within the December quarter, prime 5 manufacturers MI, Samsung, LG, One Plus and TCL managed 42.6 p.c of the market share.
Senior Analysis Analyst Anshika Jain mentioned, “OnePlus, Vu, and TCL have been among the many fastest-growing manufacturers within the good TV section in 2022. Xiaomi led the general good TV market with an 11 p.c share, adopted by Samsung and LG.” Sensible TV shipments in Rs. 20,000-Rs 30,000 value band grew 40 p.c YoY to succeed in a 29 p.c share. The common promoting value (ASP) declined 8 p.c YoY to round Rs. 30,650, Jain added.
“Sensible TV contribution to general shipments reached its highest-ever of 90 p.c in the course of the 12 months. It’s anticipated to go up additional as a consequence of extra launches within the sub-Rs. 20,000 value vary and non-smart-TV-to-smart-TV migration. Non-smart TV shipments declined 24 p.c YoY in 2022. On-line channels elevated their contribution to the whole shipments to 33 p.c in the course of the 12 months,” he mentioned.