India’s good TV market recorded a 38 p.c year-on-year progress 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, world manufacturers led India’s good TV section with a 40 p.c share, adopted by Chinese manufacturers with a 38 p.c share. While the Indian manufacturers confirmed the quickest progress, doubling their share to 22 p.c of the full good TV shipments.
“The share of smaller size TV is increasing, with 32-inch to 42-inch 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 are more and more being supplied by manufacturers, it added.
“Smart TV penetration of overall shipments reached its highest-ever share of 93 percent during the quarter,” stated the report, including, this penetration is anticipated to go up additional because of extra launches within the sub-Rs. 20,000 value vary.
During the quarter, the contribution from the web channels within the whole shipments elevated to 35 p.c as all main e-commerce platforms supplied varied promotions and reductions, together with unique launches, in the course of the current festive season gross sales.
Xiaomi (which incorporates Redmi‘s share) continued to guide the good TV market within the third quarter of 2022 with an 11 p.c market share, adopted by Samsung with 10 p.c share and LG with 9 p.c.
During the quarter, OnePlus grew 89 p.c YoY, cornering an 8.5 p.c share in good 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 getting into the extremely aggressive good 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 latest fashions, particularly within the Rs. 20,000- Rs. 30,000 value vary. Other rising manufacturers within the high 10 included Realme and Haier, she added.