India’s sensible TV market recorded a 38 % year-on-year development in shipments through the July-September quarter, primarily pushed by festive season provides, a number of new launches, low cost occasions, and promotions, mentioned a Counterpoint Research report.
According to the report, world manufacturers led India’s sensible TV phase with a 40 % share, adopted by Chinese manufacturers with a 38 % share. While the Indian manufacturers confirmed the quickest development, doubling their share to 22 % of the full sensible TV shipments.
“The share of smaller size TV is increasing, with 32-inch to 42-inch displays making up approximately half of the total shipments during the quarter. Although LED displays remain the preferred choice, advanced technology displays such as OLED and QLED are gaining ground,” the report mentioned.
Now extra fashions are being launched with QLED shows. Besides, Dolby Audio and higher audio system are different options which might be more and more being offered by manufacturers, it added.
“Smart TV penetration of overall shipments reached its highest-ever share of 93 percent during the quarter,” mentioned the report, including, this penetration is anticipated to go up additional attributable to extra launches in the sub-Rs. 20,000 value vary.
During the quarter, the contribution from the net channels in the full shipments elevated to 35 % as all main e-commerce platforms provided varied promotions and reductions, together with unique launches, through the latest festive season gross sales.
During the quarter, OnePlus grew 89 % YoY, cornering an 8.5 % share in sensible TV shipments.
While the homegrown model VU share was greater than doubled in the third quarter of 2022, the report added.
According to the report, many new Indian manufacturers are coming into the extremely aggressive sensible TV market.
“OnePlus, Vu and TCL were the fastest growing brands in the smart TV segment in Q3 2022,” mentioned Counterpoint Senior Research Analyst Anshika Jain.
Once once more, LG has secured the third spot because of the introduction of latest fashions, particularly in the Rs. 20,000- Rs. 30,000 value vary. Other rising manufacturers in the highest 10 included Realme and Haier, she added.