A report by Counterpoint Research said that the Indian smart TV market saw a 38% year-on-year growth in shipments in the July-September quarter, mainly driven by festive season availability, multiple new product launches, discounts and promotions.

According to the report, global brands lead the Indian smart TV market with a 40 percent share, followed by Chinese brands with a 38 percent share. Indian brands grew the fastest, doubling their share to for 22% of total smart TV shipments.

“The share of small-sized TVs is increasing, with 32-inch to 42-inch displays accounting for about half of total shipments this quarter. While LED displays remain the first choice, advanced technology displays such as OLED and QLED are gaining ground,” the report said.

Now, more and more car models are equipped with QLED displays. Additionally, added, Dolby audio and better speakers are other features that brands are increasingly offering.

“Smart TV penetration in overall shipments reached an all- high of 93% this quarter,” the report said, adding that is expected to rise further due to more product launches at sub-Rs. 20,000 price range.

During the quarter, the online channel’s contribution to total shipments increased to 35% as all major e-commerce platforms offered various promotions and discounts as well as exclusive releases during the recent festive sales period.

Xiaomi (including Redmi’s share) continues to lead the smart TV market in Q3 2022 with an 11% market share, followed by Samsung with a 10% share and LG with a 9% share.

During the quarter, OnePlus grew 89% year-over-year, capturing an 8.5% share of smart TV shipments.

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While the share of local brand VU more than doubled in the third quarter of 2022, the report added.

According to reports, many new Indian brands are entering the competitive smart TV market.

“OnePlus, Vu, and TCL are the fastest-growing brands in the smart TV space in Q3 2022,” said Anshika Jain, Senior Research Analyst at Counterpoint.

LG once again took third place thanks to the launch of new models, especially the Rs. 20,000- Rs. 30,000 price range. Other emerging brands in the top 10 include Realme and Haier, she added.

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By Rebecca French

Rebecca French writes books about Technology and smartwatches. Her books have received starred reviews in Technology Shout, Publishers Weekly, Library Journal, and Booklist. She is a New York Times and a USA Today Bestseller...