Smart TV, one of the newer trends in both the television and smart home appliance industry, has been growing strong in the Indian market. Most television manufacturers have been focusing on broadening their product portfolios with smart TVs, and as a result, the price of entry level smart TVs has been brought down to less than 200 U.S. dollars.
Smart TV market
During the coronavirus pandemic, the demand for televisions was further boosted by an increased need for home entertainment and an overall growing popularity of OTT content. In India, the top five brands of smart TV captured nearly half of the market share and more than 95 percent of the televisions sold in India were also manufactured locally. However, despite the rise of VU, other domestic brands haven’t performed well in this sector due to a combination of business strategies missing the mark, supply chain management issues, and fierce competition from foreign companies.
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Counterpoint Research. (September 30, 2023). Share of smart television market in India in first half of 2023, by vendor [Graph]. In Statista. Retrieved November 03, 2024, from https://www.statista.com/statistics/1092228/india-smart-tv-market-share-by-vendor/
Counterpoint Research. "Share of smart television market in India in first half of 2023, by vendor." Chart. September 30, 2023. Statista. Accessed November 03, 2024. https://www.statista.com/statistics/1092228/india-smart-tv-market-share-by-vendor/
Counterpoint Research. (2023). Share of smart television market in India in first half of 2023, by vendor. Statista. Statista Inc.. Accessed: November 03, 2024. https://www.statista.com/statistics/1092228/india-smart-tv-market-share-by-vendor/
Counterpoint Research. "Share of Smart Television Market in India in First Half of 2023, by Vendor." Statista, Statista Inc., 30 Sep 2023, https://www.statista.com/statistics/1092228/india-smart-tv-market-share-by-vendor/
Counterpoint Research, Share of smart television market in India in first half of 2023, by vendor Statista, https://www.statista.com/statistics/1092228/india-smart-tv-market-share-by-vendor/ (last visited November 03, 2024)
Share of smart television market in India in first half of 2023, by vendor [Graph], Counterpoint Research, September 30, 2023. [Online]. Available: https://www.statista.com/statistics/1092228/india-smart-tv-market-share-by-vendor/