The smart TV market in India has seen some notable growth in the third quarter of this year, when compared to the same time last year. During this period, Xiaomi took the lead in the market while other brands also saw growth as well. So let’s have a look.
According to a Counterpoint Research report, the Chinese tech giant has continued to lead the smart TV market in Q3 2022, with a sizeable 11 percent market share. The company saw great sales, especially with its 4K display and Dolby Audio & Vision offerings on its products. The company’s PatchWall software also offered over 300 live channels, which helped models like the Xiaomi Mi 4A Horizon Edition, 5A series, and even Redmi Smart TV series to see great sales during this period.
Overall, the Indian smart TV market saw a notable growth of 38 percent YoY in this quarter. Global brands had dominated the market with a 40 percent market share, while Chinese brands came in second with a 38 percent market share. Lastly, the Indian brands only accounted for 22 percent of the total shipments in the region, but saw their shares more than double in this category in Q3 2022.
As per Senior Research Analyst Anshika Jain, “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.”
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