Counterpoint Research has released a report on the Indian smart TV market for 2021. According to the report, the market grew more than the year-earlier and registered its highest-ever shipments. More consumers started preferring large-screen televisions. In fact, they accounted for almost half of the shipments.

Xiaomi Mi TV 4C 32

Counterpoint reports that the TV shipments in India grew by 24% YoY and 48% YoY in 2021 and Q4 2021 respectively. These numbers stood at 55% YoY and 65% YoY for smart TVs. As a result of the aforementioned growth, the market share of smart televisions increased to 84% from 67%.

The growth of the smart TV category was supported by demand for home entertainment during lockdowns, newer launches at affordable price tags, growth of newcomers, discounts, and availability of premium features at attractive prices.

As mentioned earlier, the market share of large-screen televisions (above 40-inch) increased to 42% last year compared to just 31% in 2020. At the same time, the online channel continued to show growth due to brands’ partnerships with eCommerce platforms and launching their own websites. Anyway, the market is still offline-centric as this channel alone drove 69% of the shipments in 2021.

Talking about brands, Xiaomi led the smart TV market in India throughout 2021 with an 18% market share. It was closely followed by Samsung with a 16% market share. The South Korean electronics giant’s entire TV shipments (smart and non-smart) accounted for 18%. LG, Sony, and OnePlus rounded off the top 5 with 11%, 6%, and 6% market shares respectively.

As far as interesting facts are concerned, OnePlus witnessed a record 354% shipment growth. Further, Sony was the most preferred brand over ₹40,000 segment. Finally, budget models were the best-selling TVs for all the brands.

 

 

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