India smart TV market up 8% in 1st half of 2023, ships 4.5 mn units: Report

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.

shs/prw