India’s sensible TV shipments recorded double-digit development of 28 % in 2022, which was led primarily by the festive season within the third quarter of a number of new launches, low cost occasions, and promotions, stated a Counterpoint Analysis report.
Furthermore, demand for larger screen-size TVs within the lower cost tier additionally fueled the expansion, it stated.
Whereas within the December quarter, after the pageant gross sales, sensible TV shipments have been virtually flat at 2 % Yr-on-Yr (YoY) on account of a slowdown in demand.
Sensible system maker Xiaomi continued to steer India’s sensible TV market in 2022 with an 11 % share.
This was adopted by Samsung, LG, OnePlus and TCL, respectively within the fast-growing Indian sensible TV market.
OnePlus and TCL have been among the many fastest-growing sensible TV manufacturers in 2022, stated the Counterpoint Analysis report.
Whereas Sony was among the many most popular manufacturers within the premium phase.
In 2022, over 99 % of the TVs have been assembled regionally, whereas just some high-end TV units have been imported by the manufacturers, it stated.
Furthermore, 96 % of the market is being pushed by LED TVs, and MediaTek chips had round a three-fifths share of the whole TV market through the yr.
Within the December quarter, high 5 manufacturers MI, Samsung, LG, One Plus and TCL managed 42.6 % of the market share.
Senior Analysis Analyst Anshika Jain stated, “OnePlus, Vu, and TCL have been among the many fastest-growing manufacturers within the sensible TV phase in 2022. Xiaomi led the general sensible TV market with an 11 % share, adopted by Samsung and LG.” Sensible TV shipments in Rs. 20,000-Rs 30,000 value band grew 40 % YoY to achieve a 29 % share. The typical promoting value (ASP) declined eight % YoY to round Rs. 30,650, Jain added.
“Sensible TV contribution to total shipments reached its highest-ever of 90 % through the yr. It’s anticipated to go up additional on account of extra launches within the sub-Rs. 20,000 value vary and non-smart-TV-to-smart-TV migration. Non-smart TV shipments declined 24 % YoY in 2022. On-line channels elevated their contribution to the whole shipments to 33 % through the yr,” he stated.
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