Record year for smart TV shipments in India

The Indian market charted record smart TV shipments in 2021.

According to a report from Counterpoint, India’s TV shipments grew 48% year-over-year in Q4 2021 (December quarter) and 24% year-over-year in 2021. The smart TV market grew at a faster rate of 55% year-over-year in 2021 and 65% year-over-year in Q4 2021, reaching its highest ever shipments for a calendar year.

Overall, smart TVs now represent 84% of the total TV market in India. This is up from 67% in 2020, with post-pandemic economic recovery and faster upgrades in entry tiers cited as contributing factors.

Xiaomi is the leader of the smart TV segment in India with an 18% market share. Samsung meanwhile is the overall TV leader, but second in smart TV with 16%. LG is in third with an 11% share, while Sony and OnePlus have 6% each.

TVs in India are also getting bigger. TVs larger than 40 inches represented 42% of the market in 2021 compared to 31% in 2020.

Research analyst Akash Jatwala said: “The smart TV market is showing tremendous growth, which is attributed to increase in demand for home entertainment amid lockdown, newer launches at affordable prices, growth of new entrants, discount schemes, and premium features at attractive prices. 

“Newer brands are offering advanced display technologies like OLED and QLED at attractive prices, which is also helping in enhancing the viewer experience. Besides, features such as Dolby Atmos and Vision, better sound system, higher refresh rate and larger screen size are gaining ground among buyers.”

Tags: Counterpoint

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