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NEW DELHI: Smart TV shipments in India increased 65% year-on-year in 2Q21, as original equipment manufacturers (OEMs) rapidly expand their smart TV portfolio, according to a new report from the research firm Counterpoint Research Market Report.

Xiaomi, Samsung, LG and Sony held the lion’s share of the smart TV market in 2Q21 while OnePlus maintained its position in the top five with 20% quarter-over-quarter growth.

Samsung’s T4000 series was the primary volume driver during the quarter and helped it dominate the overall TV market. The company’s QLED TV business grew 400% year-over-year.

Xiaomi continued to dominate the smart TV segment with a 28% share. The Mi TV 4A, 4A Horizon edition, and 4A Pro were its top selling models, while the newly launched Redmi TVs also helped the brand capture volumes.

LG came in third and increased its market share with 65% year-over-year growth.

Overall, the smart TV market captured an 80% share of the overall TV market in the quarter.

“During the COVID-19 closures, people were forced to stay in their homes longer, which led to a surge in demand for home entertainment, which made smart TV more popular in the country. In addition, OEMs offer smart TVs with high specifications at very competitive prices, further attracting consumers to smart TVs, ”said Debasish Jana, Research Associate.

Smart TV shipments in India increase 65% year-on-year in 2Q21: Counterpoint

At the same time, global TV shipments grew 46% year-on-year in 2Q21, helped by post-pandemic market improvement as well as retail channels catering to pent-up demand, according to the company. . Sales channels, both offline and online, play a key role in the market even as the online channel grows at a faster rate as the pandemic has forced consumers to buy online.

“They [TV brands] partner with e-commerce websites and use them as a launch platform to achieve national reach. This symbiotic relationship between brands and e-commerce sites also benefits the end consumer, both in terms of accessibility and affordability, ”Jana added.

In addition, a few major brands are expected to increase their prices due to increased prices for panels (or open cells) and other television components, which is exacerbated by chip shortages.

However, the Indian television market is growing at a faster rate and is expected to reach pre-pandemic levels by early 2022, the company said.



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