India’s sensible TV shipments recorded double-digit progress of 28 % 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, stated a Counterpoint Analysis report.
Furthermore, demand for larger screen-size TVs within the lower cost tier additionally fueled the expansion, it stated.
Whereas within the December quarter, after the pageant gross sales, sensible TV shipments have been virtually flat at 2 % 12 months-on-12 months (YoY) on account of a slowdown in demand.
Sensible system maker Xiaomi continued to steer India’s sensible TV market in 2022 with an 11 % share.
This was adopted by Samsung, LG, OnePlus and TCL, respectively within the fast-growing Indian sensible TV market.
OnePlus and TCL have been among the many fastest-growing sensible TV manufacturers in 2022, stated the Counterpoint Analysis report.
Whereas Sony was among the many most popular manufacturers within the premium section.
In 2022, over 99 % of the TVs have been assembled domestically, whereas just some high-end TV units have been imported by the manufacturers, it stated.
Furthermore, 96 % of the market is being pushed by LED TVs, and MediaTek chips had round a three-fifths share of the overall 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 % of the market share.
Senior Analysis Analyst Anshika Jain stated, “OnePlus, Vu, and TCL have been among the many fastest-growing manufacturers within the sensible TV section in 2022. Xiaomi led the general sensible TV market with an 11 % share, adopted by Samsung and LG.” Sensible TV shipments in Rs. 20,000-Rs 30,000 worth band grew 40 % YoY to achieve a 29 % share. The common promoting worth (ASP) declined 8 % YoY to round Rs. 30,650, Jain added.
“Sensible TV contribution to general shipments reached its highest-ever of 90 % in the course of the 12 months. It’s anticipated to go up additional on account of extra launches within the sub-Rs. 20,000 worth vary and non-smart-TV-to-smart-TV migration. Non-smart TV shipments declined 24 % YoY in 2022. On-line channels elevated their contribution to the overall shipments to 33 % in the course of the 12 months,” he stated.
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