China's Mi Leads Indian TV Market
While everyone was tracking smartphone sales to figure out the extent of post-pandemic recovery, another category has smartly stolen the thunder. In the process, it also says something about the dramatic change in the way Indians have been spending their free time since Covid-19 pandemic.
More than 8 out of every 10 televisions brought by Indians last year were Smart TVs. Sales themselves grew solid last year – by 55% for the whole of 2021, but a more vigorous 65%if you take the last three months of the year.
The indications are clear. Indians are not only watching more television especially the OTT platforms but they are investing in better, bigger and internet-enabled televisions to do so. “Smart TV market is showing tremendous growth, which is attributed to increase in demand for entertainment amidst lockdown, newer launches at affordable prices, growth of new entrants, discount offers and premium features at attractive prices,”said Akash Jatwala, research analyst at Counterpoint Technology - the global consultancy which did the research. Xiaomi, which is already among the prominent leaders in the mobile smartphone segment, continues to lead in the Smart TV category, as well. It is followed by Korean majors Samsung and LG. Sony comes behind them in total numbers, as it was the most sought-after when it came to bigger and premium units costing above Rs 40,000 which usually a normal middle class family would not prefer to buy. The fastest growing TV brand in India in the year 2020-2021 was Xiaomi, with a whopping 354 per cent growth in TV units shipped. Xiaomi has been tightening its grip in the Smart TV market and has been steadily posting impressive numbers. In line with that, a report coming from China claims that the company is now expected to ship over 14 million units of its Smart TV in the year 2020.
In 2018, after the Mi TV brand was launched in India, the company announced that it had sold more than 500,000 Mi TVs in over six months. It is currently the leading Smart TV brand in the Indian market with more than 33 percent market share.
Another interesting trend has been the preference to buy TV from online e-commerce sites. “Online contribution increased to around 31 per cent in 2021,” said Counterpoint's senior research analyst Anshika Jain. “The pandemic changed the buying habits of many consumers, making them prefer online shopping from the comfort of their homes.” TV brands have also realised the trend, partnering with e-commerce players and even launching web-only models.
The indications are clear. Indians are not only watching more television especially the OTT platforms but they are investing in better, bigger and internet-enabled televisions to do so. “Smart TV market is showing tremendous growth, which is attributed to increase in demand for entertainment amidst lockdown, newer launches at affordable prices, growth of new entrants, discount offers and premium features at attractive prices,”said Akash Jatwala, research analyst at Counterpoint Technology - the global consultancy which did the research. Xiaomi, which is already among the prominent leaders in the mobile smartphone segment, continues to lead in the Smart TV category, as well. It is followed by Korean majors Samsung and LG. Sony comes behind them in total numbers, as it was the most sought-after when it came to bigger and premium units costing above Rs 40,000 which usually a normal middle class family would not prefer to buy. The fastest growing TV brand in India in the year 2020-2021 was Xiaomi, with a whopping 354 per cent growth in TV units shipped. Xiaomi has been tightening its grip in the Smart TV market and has been steadily posting impressive numbers. In line with that, a report coming from China claims that the company is now expected to ship over 14 million units of its Smart TV in the year 2020.
In 2018, after the Mi TV brand was launched in India, the company announced that it had sold more than 500,000 Mi TVs in over six months. It is currently the leading Smart TV brand in the Indian market with more than 33 percent market share.
Another interesting trend has been the preference to buy TV from online e-commerce sites. “Online contribution increased to around 31 per cent in 2021,” said Counterpoint's senior research analyst Anshika Jain. “The pandemic changed the buying habits of many consumers, making them prefer online shopping from the comfort of their homes.” TV brands have also realised the trend, partnering with e-commerce players and even launching web-only models.
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