Because of individuals being confined to their properties because of the pandemic, there was large spurt within the demand for good TVs as OTT platforms have mushroomed. The smart TV market within the nation has recorded a rare 65% YoY development in Q2 2021, and India’s total TV shipments grew 46% YoY in the identical quarter, in response to Counterpoint Analysis’s TV Tracker Service. The report additionally identified that the good TV market continued to seize share from the non-smart TV market, taking an 80% share of the general TV market throughout the quarter.
Xiaomi, Samsung, LG and Sony dominated the good TV market whereas OnePlus retained its place within the prime 5 with a 20% QoQ development.
Non-smart TVs from Samsung and LG nonetheless have some traction out there however have little or no share in these manufacturers’ product portfolios, the report identified.
Some elements sourcing points are there
Usually, the Indian TV market is rising at a sooner tempo and is anticipated to succeed in pre-pandemic stage by early 2022.
Counterpoint’s Analysis Affiliate Debasish Jana mentioned, “India has all the time been a really profitable marketplace for TVs. With a big put in base of CRT and non-smart TVs, the nation holds nice potential for the expansion of the good TV phase. OEMs are providing good TVs with excessive specs at very aggressive costs, attracting customers much more in direction of the good TV.”
He added: “TV manufacturers in India are leveraging the expansion of on-line channels. They’re partnering with e-commerce web sites and utilizing them as a launch platform to realize countrywide attain. This symbiotic relationship between the manufacturers and e-commerce web sites can also be benefiting the top shopper, each by way of accessibility and affordability.”
Nevertheless, the rise in costs of panels (or open cells) and different TV elements, together with chip shortages, within the world market is holding OEMs below strain.
Robust combat amongst prime manufacturers
Among the many particular person manufacturers, the aggressive Xiaomi continued to steer the good TV phase with a 23% market share. The MI TV 4A, 4A Horizon version and 4A Professional have been its best-selling fashions whereas the newly launched Redmi TVs additionally helped the model seize volumes.
For Samsung, the entry-level T4000 sequence was the principle quantity driver within the quarter and helped it to steer the general TV market. Aside from that, the 2021 model of the Crystal sequence made its mark available on the market. Samsung’s QLED TV enterprise noticed a 400% YoY development within the quarter.
The Counterpoint report mentioned LG continued to extend its share out there with a 65% YoY development. The model has introduced a brand new marketing campaign, “Collectively We Can Make Life Higher”, which affords unique offers and warranted presents.
Sony is generally concentrating on the premium phase, though its reasonably priced sequence can also be doing properly. Within the premium class, the X sequence was in demand in Q2 2021. Sony held a sale for its TVs, concentrating on the IPL season with reductions and prolonged guarantee.
“OnePlus and Realme have established themselves out there as sturdy gamers and are giving a tricky combat, notably within the reasonably priced and mid-range worth segments,” the report added.