MediaTek chips power most of India's smart TVs shipped in 2022

Despite the macroeconomic headwinds, such as the stubborn inflation that has persisted for about a year, India's smart TV shipments saw double-digit growth in 2022, with major brands seeing their market share drop amid intensifying competition in the market. MediaTek chips have a three-fifths share of smart TVs shipped in India in 2022.

According to Counterpoint's latest market tracker, India's smart TV shipments rose by 28% year-on-year in 2022 and grew by 2% annually in the fourth quarter of the year. The report further noted that smart TV accounted for 90% of total TV shipments in India, the highest-ever record, and is expected to keep penetrating India with affordable choices and more product launches.

Xiaomi continued to lead the market with a 10.5% share after five years of entry in the segment. Samsung Electronics is trailing by only 0.3 percentage points. OnePlus, Vu, and TCL were among the fastest-growing brands, with OnePlus-branded smart TV shipments growing 80% annually.

Counterpoint research analyst Akash Jatwala said that bigger screens and Dolby integration are the most preferred smart TV features among Indian consumers, especially when smart TVs with these features are becoming more affordable. Jatwala further said that many brands are launching smart TVs with Google TV OS in the mid-segment (INR30,000~50,000 or US$366~611). Besides, global, Chinese, and Indian brands accounted for 40%, 36%, and 24% of shares, respectively.

Market leader Xiaomi just celebrated the fifth anniversary of its entry into the Indian smart TV market in February. The company said in a letter to customers that since it began launching smart TVs in India in 2018, it has enhanced the viewing experience of 10 million households, and all of its smart TVs sold in India are 100% made locally, Times of India reports. According to the Bureau of Indian Standards, Xiaomi's smart TVs sold in the country are made by TTE Electronics, Dixon, and Radiant.

Source: Counterpoint, April 2023