According to the latest statistical report published by the market research firm Counterpoint Research, the shipment volume of smart TVs in India increased by 28% year-on-year in 2022, with online sales accounting for 33% of the total.
The main information from the report, as provided by Gizcoupon, is as follows:
- In 2022, domestic brands in India increased their market share significantly to 24%, compared to 2021.
- Smart TVs contributed over 90% of the overall TV shipment volume, reaching a historical high.
- The average selling price (ASP) in 2022 decreased by 8% year-on-year.
- Online channels accounted for 33% of the total shipment volume in 2022.
- MediaTek chips accounted for about three-fifths of the entire TV market.
- The shipment volume of non-smart TVs decreased by 24% year-on-year.
- Xiaomi continued to lead the Indian smart TV market with an 11% share in 2022.
- Samsung ranked second and launched the T4000 series in 32-inch and 43-inch sizes last year.
- LG ranked third.
- OnePlus was one of the fastest-growing brands in 2022, with a year-on-year shipment growth of 80%, ranking fourth. OnePlus ranked second in the price range below INR 30,000. The Y1 and Y1S models were the best-selling.
- TCL ranked fifth.
- 96% of smart TVs use LED panels.
- More than 99% of TVs are assembled locally in India, with some high-end TVs requiring imports.