Gearbest Tech
[Gearbest Technology News]Recently, foreign media cited the latest report and pointed out that smart TV shipments in India have declined, but in 2024, high-end TVs will lead sales. In terms of market share, Xiaomi ranks first in the Indian market, surpassing Samsung and LG.
According to the latest report from Counterpoint Research, smart TV sales in the Indian TV market will decline by 16% in 2023. The report also mentioned that smart TVs accounted for 93% of total TV sales in India, setting a record market penetration rate. Going forward, high-end TV sales demand in India is expected to grow and lead the entire segment by 2024. However, there is also the possibility that smart TVs will become more expensive due to the increase in display panel costs.
At present, Xiaomi is still the largest manufacturer in the Indian smart TV market, with a market share of 11.4%, followed by Samsung, LG, TCL and OnePlus. It is worth mentioning that the top four manufacturers have all achieved share growth compared with 2022.
Research analyst Akash Jatvala mentioned that Indian consumers tend to prefer larger screen size TVs, and factors such as 4K resolution and display technology are the factors that users pay most attention to when buying new TVs. It has been observed that QLED TVs are increasingly popular with brands such as TCL and Hisense, which has doubled the growth of this segment.
It is reported that Indian consumers are looking for smart TVs that can directly stream high-resolution content. But TVs are also expected to become more expensive due to increased panel costs, so consumers are likely to prefer higher-end models to get the most value from their new TVs. Smart TV prices in India are likely to increase by more than 10% in the coming months.
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