Indian TV shipment sees double digit growth

The share of small TVs is increasing, with 32- to 42-inch displays accounting for about half of total shipments this quarter. While LED displays remain the preferred choice, advanced technology displays such as OLED and QLED are gaining traction. The TV market is seeing growth in QLED TV launches. Dolby audio and good speakers are other features increasingly offered by brands.

Commenting on market trends, Akash Jatwala, Research Analyst, said: “Dolby Audio is becoming popular. Most of the new TV models have Dolby Audio support. 32” is still the most popular screen size, as it caters to a wide array of consumers and comes with an affordable price range, whereas 43” is gaining popularity in the mid-range. On the software side, newer models are increasingly coming with Google TV, mainly in the >INR 25,000 ($300) segment. The major benefit of Google TV is its user interface and content recommendations, as it can recommend content across various streaming apps, and YouTube, which is not available on Android TV.”

Regarding brand shipments for smart TVs, Jatwala said: “Global brands lead the market with a 40% share, followed by Chinese brands with a 38% share. The share of Indian brands doubled in Q3 2022 to reach 22% of the overall shipments. Many new Indian brands are entering the highly competitive market.”

Commenting on the growth of the brand, senior research analyst Anshika Jain said: “OnePlus, Vu and TCL were the fastest growing brands in the smart TV segment in Q3 2022. Xiaomi led the overall smart TV market with an 11% share, followed by Samsung. LG once again secured the third spot due to the introduction of new models, especially in the INR 20,000-INR 30,000 ($250 – $400) price range. Other emerging brands in the top 10 included realme, Sony and Haier.”

Smart TV penetration to total shipments this quarter hit an all-time high of 93%. It is expected to continue to rise as more launches occur at prices below INR 20,000 (US$250). The online platforms increased their share of total shipments to 35% during the quarter. Major online platforms offered various promotions, discounts and exclusive product launches during last year's Christmas sale.

TV Market Summary

• Xiaomi continued to lead the smart TV market in Q3 2022 with an 11% share. This quarter, Xiaomi launched its Mi TV X series with a 4K display and Dolby Audio and Vision. This model also comes with features such as PatchWall with over 300 live channels. Xiaomi's Mi 4A Horizon Edition, 5A series and Redmi Smart TV series were the main volume drivers.

• Samsung ranked second with its 10% share of the smart TV market in Q3 2022. This quarter, Samsung launched new models with 32-inch and 43-inch screen sizes. The T4000 and T5000 series models were volume drivers. Samsung offers a mode that turns your TV into a PC, provides content recommendation guides, and a web browser, and streams free TV channels with Samsung TV Plus.

• LG will capture its 9% share of the smart TV market in Q3 2022. During this quarter, LG launched its QNED TV, but OLED TV is one of its most popular premium products. LG offers profile options, allowing viewers to create profiles for personalized content, game optimizers, and cloud-based games on low-end models.

• OnePlus grew 89% year-over-year in the quarter, accounting for its 8.5% share of smart TV shipments. The Y1, Y1S, and Y1S Pro series accounted for the majority of sales volume during the quarter. OnePlus has some great features such as Dolby Audio support and a 4K display, and Oxygen Play offers recommended systems along with other features for a personalized viewing experience.

• Vu shares more than doubled in the third quarter of 2022. This quarter, VU launched the GloLED series. It comes with a 4K display, Google TV support, and a built-in subwoofer with 104W sound output. The series was one of the brand's bestsellers.