9 out 10 TVs sold in India in 2022 were smart TVs, and nearly all of these TVs are assembled locally

• Smart TVs account for over 90% of the TVs shipped in India in 2022, with 43-inch TVs dominating the list.
• Smart TVs recorded a 28% year-on-year growth in shipments in 2022.
• Xiaomi, Samsung, and LG occupied the top spots, accounting for nearly 30% of the market share.

Smart TV shipments in India received a good boost in 2022, reporting a 28% year-on-year growth, fueled by strong sales in the festive season, new launches, discounts, and more, according to a Counterpoint Research report.

The festive season during Q3 2022 boosted sales, with people looking to upgrade their televisions during the period. The growth has also been attributed to consumer demand for bigger TVs in lower price tiers.
Smart TVs account for over 90% of the country’s TV shipments
The share of smart TVs in the overall TV shipments has reached a new high, with over 90% of TVs being shipped in 2022 being smart TV, meaning 9 out of 10 TVs sold in 2022 were smart TVs.

The availability of affordable internet has made smart TVs preferable to consumers as these allow users to stream content, even without a cable connection directly. Non-smart TVs reported a 24% year-on-year decline in sales in 2022.

“Smart TV contribution to overall shipments reached its highest ever of 90% during the year. It is expected to go up further due to more launches in the sub- ₹20,000 price range and non-smart-TV-to-smart-TV migration. Non-smart TV shipments declined 24% YoY in 2022,” said Anshika Jain, senior research analyst at Counterpoint Research.
Nearly all the TVs sold in India are assembled locally
According to the report by Counterpoint Research, more than 99% of the TVs sold in India are assembled locally, and just a small percentage of high-end TVs are imported into the country.
Customers prefer 43-inch TVs the most
The report has also revealed that customer preference is shifting to larger TVs, especially the 43-inch variant. The 43-inch TV segment grew by 29% in 2022. In addition, Dolby integration is another sought-after feature, with around 41% of TVs sold in 2022 offering Dolby.
Xiaomi leads the smart TV market
Xiaomi, which offers TVs across different budget segments, leads the smart TV segment with a market share of 10.5%, with Samsung being a close second with a market share of 10.2%. LG occupied the third spot with a market share of 8.5%.

OnePlus is fourth on the list with a market share of 8.2%, followed by TCL, which occupied the fifth spot with a market share of 5.2%.

Xiaomi’s market share declined from 17.5% in 2021 to 10.5% in 2022.

Sony, which occupied the fourth position in 2021, moved out of the top five in 2022. However, the company continues to perform well in the premium segment and occupies the third position.
Around 60% of TVs are powered by MediaTek chipsets
Around 60% of the TVs sold in India were equipped with MediaTek chipsets, according to the Counterpoint report.

“MediaTek chips had around a three-fifths share of the total TV market during the year,” the report said.

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