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India smart TV market sees 8% growth in 1H23 with 4.5 mn unit shipments: Report

India smart TV market sees 8% growth in 1H23 with 4.5 mn unit shipments: Report

New Delhi: The Indian smart TV market has witnessed an 8 percent (year-on-year) growth with the shipment of 4.5 million units in the first half of 2023 (1H23), a new report said on Monday.

According to the International Data Corporation (IDC), the share of the online channel grew by 25 percent in 1H23 (year-over-year), reaching 39 percent driven by online sales festivals.

Last year, 9.8 million units were shipped to India, with a 7 percent (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 percent in 1H23,” said Upasana Joshi, Research Manager, Client Devices, IDC India.

32-inch and 43-inch screen sizes remain mainstream with 71 percent of the collective share.

Share of the 55-inch went up to 12 percent from 9 percent a year ago in 1H23, resulting in 35 percent (year-over-year) growth in the $400+ price segment.

The report further said that the average selling price (ASP) of smart TVs stood at $380 in 1H23, a 3 percent (year-over-year) decline.

With so many 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 percent (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 the case of brands, Xiaomi continued to lead the TV market with a 14 percent share in 1H23, while Samsung stood second with a 13 percent market share. LG stood third with a 12 percent share, TCL fourth with an 8 percent share, and OnePlus fifth with a 7 percent share.

With inputs from IANS

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TAGS:India BusinessTelevisionBusiness NewsSmart TV market1H23
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