Tech

Xiaomi leads the fast-growing smart TV market in India, report claims


Meanwhile, the report also states that TVs priced between Rs 10,000 and Rs 20,000 have captured more than 40% share in the overall TV market. Representative image

Smart TV is now one of the indispensable parts in modern households. India’s overall TV market grew 33% year-on-year, reaching an all-time high of 89%, according to a CounterPoint IoT bag service. According to the report, Xiaomi market leader with 14.3% market share, followed by SAMSUNG with 13.1%. Meanwhile, the premium TV segment including devices priced above Rs 30,000 has grown by 68.6% year-on-year. Additionally, the premium TV segment grew 33.6% in Q1 2022 compared to 23.5% in Q1 2021, resulting in a 10.8% increase in average selling price (ASP) year-on-year. (YoY).
What drives the growth of smart TVs in India
The report claims that the main reason for Smart TVThe dominance of the Indian market is the growth in e-commerce platforms like Flipkart, Amazon and others contribute to 31% of total TV shipments. TV sales on online channels increased by 30%. The report claims that the main drivers of growth online include new product launches from leading brands at affordable prices, along with discounts and promotions.
Meanwhile, the report also states that TVs priced between Rs 10,000 and Rs 20,000 have captured more than 40% share in the overall TV market.
How top brands work
According to the report, Xiaomi took the lead with 14% market share in Q1 2022. The Chinese TV maker’s Mi 4A and Redmi smart TV series are the company’s best sellers. Samsung took second place in the market, and the South Korean tech giant’s “Big TV Festival” helped the brand boost sales, the report claims.
Following this duo are LG, OnePlus and Sony with market shares of 8, 7 and 5% respectively. The report adds that OnePlus’ Y1S Edge TV series does quite well in the market.
In addition to these brands, other brands such as Realme, TCL, BPL, Vu and Haier also have a steadily increasing market share. TCL shipments increased by 58% year-on-year and Realme became the most preferred smart TV brand in the Rs 20,000 price range.
Also read: Xiaomi India is offering 3 months of YouTube Premium for free, but there’s a hitch. Click here for more details.

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