India’s smart TV market climbs 28% in 2022 as consumers upgrade to bigger screens

“Made in India” smart TVs recorded the fastest growth last year.

India’s smart TV shipments jumped 28% last year after demand spiked during the festive season in the third quarter, coupled with growing appetite for larger screens, according to tech research firm Counterpoint’s IoT Service.

Local brands including Vu and TCL recorded the fastest growth in 2022 thanks to the popularity of their new models in the mid range segment worth around INR 30,000, Counterpoint said in a report published 4 April.

Overall, “Made in India” brands accounted for nearly a quarter of all smart TV shipments in the country, trailing behind Chinese smart TVs with a 36% market share while global brands continued to lead the domestic market with a 40% market share.

India is set to be the 2nd largest solar PV manufacturing market

“Consumers are preferring bigger screen sizes, especially 43”, due to which the smart TV shipments in this display size grew 29% YoY in 2022,” said Counterpoint research analyst Akash Jatwala.

China-based Xiaomi topped the Indian smart TV market last year, followed by South Korean brands Samsung and LG, respectively. Japan’s Sony proved to be the third most preferred brand for premium TVs, or those worth INR 50,000.

Smart TVs continued to dominate the country’s whole television market after recording record shipments last year, while non-smart TVs saw shipments fall 24 percent.

Viewers are also increasingly buying their TVs online with digital shopping platforms accounting for a third of overall shipments that year.