Made in India TV Shipments Record 33 Percent YoY Growth In Q3, 2022: Counterpoint

Viraj Gawde — Tue, 10 Jan 2023 13:39:58 +0000

Recently, we reported that Made in India smartphone shipments fell by 8 percent in the third quarter. Now research firm Counterpoint has released a report of Made in India TV shipments in the third quarter of 2022. The third quarter refers to the period from July to September. The report also adds the performance of smart wearables devices in the Indian market.

As per Counterpoint Research, Made in India television shipments recorded a 33 percent year-on-year increase in Q3, 2022. Nearly five million units of TVs were sold during the period. The festive season which pushed the consumer demand and increased local production shipments is cited to be the reason for the TV market’s strong quarter-on-quarter growth. The top five brands accounted for more than 55 percent of domestically manufactured exports. The report adds that Dixon dominated the Made in India TV market followed by Radiant.

On the other hand, apart from televisions, local manufacturing also remained strong for smartwatches, TWS, tablets, and neckband earphones. Optiemus dominated the smartwatch category and contributed to more than 90 percent of shipments. Bharat FIH led the Made in India TWS shipments followed by Padget and Mivi. In the TWS segment, the local production increased to 37 percent in Q3 2022 from 16 percent in the previous quarter. Samsung, Dixon, and Wingtech were the three tablet manufacturers.

The report by Counterpoint Research said that “the government’s ambition to boost local manufacturing and design capabilities in India will have an impact on local value addition in the wearables market. As a result, we could see many businesses expanding their capacity, with new entrants choosing local manufacturing in the next years”

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Made in India TV Shipments Record 33 Percent YoY Growth In Q3, 2022: Counterpoint