India smart TV market up 8% in 1st half of 2023, ships 4.5 mn units: Report
The Indian smart television market has increased by 8 per cent (year-over-year) in the first half of 2023 (1H23) with the shipment of 4.5 million units, a new report said on Monday.
image for illustrative purpose
New Delhi, Sep 25 The Indian smart television market has increased by 8 per cent (year-over-year) in the first half of 2023 (1H23) with the shipment of 4.5 million units, a new report said on Monday.
According to the International Data Corporation (IDC), the share of the online channel grew by 25 per cent in 1H23 (year-over-year), reaching 39 per cent driven by online sales festivals.
In 2022, 9.8 million units were shipped to India, with a 7 per cent (year-over-year) growth.
“Due to decreasing prices, consumers are opting to buy an affordable smart TV instead of retrofitting non-smart TV with a streaming stick, which is losing popularity, its shipments declining by 85 per cent in 1H23,” said Upasana Joshi, Research Manager, Client Devices, IDC India.
Screen sizes of 32-inch and 43-inch remain mainstream with 71 per cent of the collective share. Share of the 55-inch went up to 12 per cent from 9 per cent a year ago in 1H23, resulting in 35 per cent (year-over-year) growth in the $400+ price segment.
The average selling price (ASP) of smart TVs stood at $380 in 1H23, a 3 per cent (year-over-year) decline, the report said.
With a plethora of features and pre-loaded apps, built-in storage in the TV is becoming increasingly important. According to the report, 8GB internal storage is the most popular, increasing by 33 per cent (year-over-year) in 1H23.
"Apart from core features, visual aesthetics like narrow bezel or bezel-less TVs in the affordable price segments and features like HDR, better DCI-P3 coverage, Dolby certification, improved sound output etc. are in demand," said Debasish Jana, Market Analyst, Smart Home Devices, IDC India.
In terms of brands, Xiaomi continued to lead the TV market with a 14 per cent share in 1H23, while Samsung stood second with a 13 per cent market share.
LG stood third with a 12 per cent share, TCL stood fourth with an 8 per cent share, and OnePlus stood fifth with a 7 per cent share.
