India Smart TV Market Records Highest Ever Shipments in 2021: Report

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Xiaomi continued to lead the smart TV segment in 2021 with an 18% market share

India’s TV shipments grew 48 percent YoY in Q4 2021 (December quarter) and 24 percent YoY in 2021, according to a report by Counterpoint.

The smart TV market grew even faster at 55 percent YoY in 2021 and 65 percent YoY in Q4 2021 to reach its highest ever shipments for a calendar year.

The overall smart TV share in the TV market soared to 84 percent in 2021 from 67 percent in 2020.

Xiaomi continued to lead the smart TV segment in 2021 with an 18% market share. The MI TV 4A, MI TV 4X, MI TV 4A Horizon edition and Redmi Smart TV X series were its best-selling models.

Samsung led the overall TV shipments in 2021 with an 18% share. It had a 16% share in the smart TV segment. LG captured an 11% share in 2021 driven by its entry-level models. Sony was the most sought brand in the >INR 40,000 price range, although the affordable W series was its main volume driver.

OnePlus saw a record 354% shipment growth during the year and ranked fifth in smart TV shipments. realme shipments grew 72% YoY in 2021.

India’s smart TV market is mostly offline-driven, with 69% of the shipments coming from offline channels.

Commenting on channel share, Senior Research Analyst Anshika Jain said, “Online channel continues to grow at a faster pace and its contribution increased to around 31% in 2021. The pandemic changed the buying habits of many consumers, making them prefer online shopping from the comfort of their homes. Apart from it, TV brands are partnering with e-commerce players and launching their websites to cater to a wide range of consumers and benefit them in terms of accessibility and affordability.”

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