‘Top 5’ companies in the Indian TV market
Xiaomi stood at No. 1 position with 11% share in Q3 2022. Mi 4A Horizon Edition, 5A series and Redmi Smart TV series helped drive volumes for the company. Samsung took the second spot with a 10% share of the smart TV market. The T4000 and T5000 series models were the volume drivers for the South Korean company. Its arch rival LG secured third spot with a 9% share on the basis of the popularity of its OLED TVs.
The fourth place went to OnePlus, which grew 89% YoY during the quarter and had an 8.5% share. The Y1, Y1S and Y1S Pro series were volume drivers for the company. VU completed the top 5 list with 5% share. Counterpoint research says that VU’s mid-range GloLED series was among the brand’s best-selling TVs. Other players constituted 56% of the market share.
The market research firm claims that global brands lead the market with a 40% share, followed by Chinese brands with a 38% share. As per Senior Research Analyst Anshika Jain, OnePlus, Vu and TCL were the fastest-growing brands in the smart TV segment in Q3 2022.
Top-selling TV size
According to Counterpoint’s IoT Service, the share of smaller-sized TVs is increasing, with 32-inch to 42-inch displays grabbing nearly half of the total shipments during the quarter. When it comes to display technology, the report mentions that LED displays remain the preferred choice for Indians, however, advanced technologies such as OLED and QLED are gaining ground.
“The 32-inch TV size caters to a wide array of consumers and comes with an affordable price range. The 43-inch models are gaining popularity in the mid-range. On the software side, newer models are increasingly coming with Google TV, mainly in the under 25,000 segment, offering benefits of its user interface and content recommendations,” Akash Jatwala, Research Analyst at Counterpoint, said in a statement.
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