Xiaomi leads India’s smart TV market in Q1 2022, report says.

Xiaomi leads India’s smart TV market in Q1 2022, report says: According to Counterpoint Research, intelligent TV shipments in India increased by 33% in Q1 2022, with Xiaomi topping the market. Xiaomi has a 14.3 percent market share, while Samsung has a 13.1 percent market share, putting it in second place.

In that order, LG, OnePlus, and Sony are third, fourth, and fifth, respectively. The price range of Rs. 10,000 to Rs. Twenty thousand accounted for nearly 40% of the whole TV market.

As customers migrate to more prominent displays, the market share of TVs with 43-inch and larger screens is also increasing. However, according to the study, India’s smart TV industry is mainly driven by offline sales.

According to the newest analysis from Counterpoint’s IoT service, India’s smart TV market share increased by 33% YoY in the first quarter of 2022, reaching an all-time high of 89 percent.

As previously said, Xiaomi has the most market share with 14.3 percent in Q1 2022. Closely followed by Samsung with 13.1 percent. In addition, Xiaomi‘s Redmi Smart TV X43, which release earlier this year, accounted for 7% of the company’s total sales.

LG finished in third place with an 8% market share, followed by OnePlus and Sony in fourth and fifth place, respectively, with 7% and 5% market shares.

Realme was also one of the most sought-after brands in the sub Rs. 20,000 pricing range, according to the study. TCL’s smart TV shipments climbed by roughly 58 percent year over year.

According to the Counterpoint analysis, the key growth drivers include growing demand for intelligent TVs paired with a rise in sales via online channels. In addition, affordable pricing, new product releases from top companies, and discounts and promotions all contributed to increased sales.

“The contribution of the premium TV segment (>INR 30,000) grew 68.6 percent YoY from 23.5 percent in Q1 2021 to 33.6 percent in Q1 2022. As brands are launching more products in the segment with enhanced features such as Dolby Support, better speakers, OLED/QLED display, and bigger screen sizes,”.

According to Counterpoint research analyst Akash Jatwala. As a result, in Q1 2022, the average selling price jumped 10.8% YoY.”

According to the study, smaller companies, including BPL, Haier, Toshiba, and Sansui, gained market share in the first quarter. India’s smart TV market was also driven mainly by offline channels, with offline channels accounting for 69 percent of shipments.

The price range of Rs. 10,000 to Rs. Twenty thousand accounted for nearly 40% of the whole TV market. However, people are turning to more extensive displays; therefore, the market share of TVs with 43-inch and larger screens has increased.