India’s sensible TV market recorded a 38 per cent year-on-year development in shipments in the course of the July-September quarter, primarily pushed by festive season provides, a number of new launches, low cost occasions, and promotions, stated a Counterpoint Research report.
According to the report, international manufacturers led India’s sensible TV phase with a 40 per cent share, adopted by Chinese manufacturers with a 38 per cent share. While the Indian manufacturers confirmed the quickest development, doubling their share to 22 per cent of the full sensible TV shipments.
“The share of smaller size TV is increasing, with 32″-42″ displays making up approximately half of the total shipments during the quarter. Although LED displays remain the preferred choice, advanced technology displays such as OLED and QLED are gaining ground,” the report stated.
Now extra fashions are being launched with QLED shows. Besides, dolby audio and higher audio system are different options which might be more and more being offered by manufacturers, it added.
“Smart TV penetration of overall shipments reached its highest-ever share of 93 per cent during the quarter,” stated the report, including, this penetration is predicted to go up additional as a result of extra launches within the sub-Rs 20,000 worth vary.
During the quarter, the contribution from the net channels within the whole shipments elevated to 35 per cent as all main e-commerce platforms supplied numerous promotions and reductions, together with unique launches, in the course of the latest festive season gross sales.
Xiaomi (which incorporates Redmi’s share) continued to guide the sensible TV market within the third quarter of 2022 with an 11 per cent market share, adopted by Samsung with 10 per cent share and LG with 9 per cent.
During the quarter, OnePlus grew 89 per cent YoY, cornering an 8.5 per cent share in sensible TV shipments.
While the homegrown model VU share was greater than doubled within the third quarter of 2022, the report added.
According to the report, many new Indian manufacturers are coming into the extremely aggressive sensible TV market.
“OnePlus, Vu and TCL were the fastest growing brands in the smart TV segment in Q3 2022,” stated Counterpoint Senior Research Analyst Anshika Jain.
Once once more, LG has secured the third spot as a result of introduction of recent fashions, particularly within the Rs 20,000-30,000 worth vary. Other rising manufacturers within the prime 10 included realme and Haier, she added.