India’s smart TV shipments grew 28% YoY in 2022 contributing its highest ever of 90% to overall TV shipments during the year, according to the latest research from Counterpoint’s IoT Service.
The growth for the year was primarily driven by strong shipments during the festive season in the third quarter, multiple new launches, discounts and promotions, and the demand for bigger screen-size TVs in the lower price tier.
More than 99% of the TVs were assembled locally, with some high-end TVs being imported. However smaller-screen TVs of 32” constituted most of the volume (47%), as they were available in the sub-INR 15,000 price segment. Around three-fifths of the total TV market had MediaTek during the year.
Global brands (excluding Indian and Chinese) led the market with a 39% share, followed by Chinese brands at 32% and Indian brands at 29%.