Due to the Covid-19 lockdown, the need for home entertainment increased dramatically, as a result, the adoption of television, particularly smart TVs, has also increased. Therefore, all OEMs are trying to capitalize on the situation by offering high-spec smart TVs at very competitive prices. Interestingly, the smart TV market in India grew a strong 65% YoY in Q2 2021, according to Counterpoint Research.
Let’s have a look into the top five smart TV brands in India, and how they are attracting more eyeballs in order to gain a sizable share in India’s Smart TV market.
Top Smart TV Brands in India
- Xiaomi maintained its lead in Indian smart TV market, with 23% share in Q2 2021.
- Xiaomi Mi TV 4A, 4A Horizon edition, and Mi LED TV 4A Pro were its best-selling smart TV models in India during Q2 2021. Its Redmi Smart TV X series, launched in March 2021, has also helped the Chinese brand to grab volumes. Apart from that, Xiaomi has entered the premium smart TV market in India as well with the launch of its QLED TV series in December 2020.
- Samsung is the second largest smart TV brand in India, with a 17% market share as of Q2 2021. It is also the leading brand in India’s overall television market.
- Samsung’s entry-level T4000 series was driving the growth during second quarter. While its 2021 Crystal series has also helped the Korean brand attract more eyeballs.
- LG is the third largest smart TV brand in India, with a market share of 11% as of Q2 2021. Interestingly, the Korean brand recorded a strong 65% YoY growth in its market share.
- LG is offering some exclusive deals and gifts to lure Indian consumers through its new campaign “Together We Can Make Life Better”.
- Sony accounted for a 9% of the total smart TV market in India during the second quarter of 2021.
- Sony is performing well in both affordable and premium smart TV segment in India. However, it’s focusing more on premium segment. Its X series Smart TV was reportedly high in demand during Q2 2021. The sale, discounts and extended warranty on TVs during IPL season also helped company to increase sales.
- With 7% share in Q2 2021, OnePlus is the fifth largest smart TV brand in India. The Chinese brand recorded a 20% QoQ growth.
Food for Thought
India’s smart TV market is still at the nascent stage. About approximately 170 million Indian households own a television. Surprisingly, only 20 million households own a smart TV. That means television companies have still a big window of opportunity to sell their smart TVs to about 150 million households.
Surprisingly, just like the smartphone market, the smart TV market in India is also being dominated by either Chinese or Korean companies. There are no Indians companies among the top 5.
Due to the Covid-19 lockdown, the shopping habits of Indians have changed, from offline to online. As a result, television brands are also leveraging the growth of online channels by partnering with e-commerce websites such as Amazon, Flipkart, in order to get nationwide exposure.