IBEF: March 19, 2020
In 2019, shipments of TVs in India increased 15 per cent annually to reach the highest-ever level of 15 million units on the back of rising demand for affordable smart television sets, according to a report by Counterpoint’s TV Tracker service.
The major reason behind the demand was smart TVs, with 32-inch TVs leading the segment and penetrating sub-US$ 150 price bands.
“India is one of the largest markets in the world with more than 200 million potential TV households and is still underpenetrated, which makes India a more attractive growth market for the entire TV and content value chain,” Counterpoint Senior Analyst Mr Karn Chauhan said. “The growing number of smartphone users in India is also driving a need for smart TVs as users look to continue with their streaming content consumption on the bigger screens when at home.”
“The broader broadband penetration in the home will further drive the overall smart TV usage; tough affordability and value for money are the key growth drivers. The new crop of brands such as Xiaomi, TCL and others are tapping their existing relationships with e-commerce channels such as Flipkart and Amazon, to successfully distribute the TVs affordably with a direct-to-consumer model,” he said.
The growth in Non-smart TV was 7 per cent YoY in 2019. Although, Samsung, LG and Sony are witnessing a YoY fall in their non-smart TV business, brands such as BPL and Sansui are still banking on that segment, which mainly caters to the rural market, B2B segment and second bedroom TV segment.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.