India's smart TV shipments saw a healthy 8.6 per cent year-on-year (YoY) growth in 2024, as per the latest IDC report. The demand was mainly driven by consumers upgrading to larger 55-inch and 65-inch TVs, along with a notable rise in offline retail purchases.
According to IDC, India shipped 12.1 million smart TV units in 2024. A key highlight was the 43 per cent growth in the 55-inch+ TV segment and a 20 per cent increase in offline sales, even as online shipments fell 8 per cent.
Samsung maintains lead, LG gains momentum
Samsung retained the top position in the Indian smart TV market with a 16.1 per cent market share, thanks to a robust 35.9 per cent YoY growth in 2024. LG followed closely with a 15.1 per cent share, showing a solid 42.2 per cent YoY growth and rising consumer preference for its premium offerings.
Xiaomi drops to third, TCL and Sony climb up
Xiaomi, once the market leader, slipped to the third spot with 11.7 per cent market share, down from 14.2 per cent in 2023, recording a 10.1 per cent decline in shipments. On the other hand, TCL and Sony secured fourth and fifth positions with 8.4 per cent and 8.2 per cent market shares, respectively. TCL posted a 21.1 per cent growth, while Sony grew by 26.9 per cent YoY.
Early 2025 off to slow start but recovery expected
Despite the strong numbers in 2024, IDC noted a 7 per cent YoY dip in shipments for January-February 2025. However, analysts expect a mid-single-digit growth in the coming quarters, led by the continued demand for large-screen TVs.
“The 55-inch and 65-inch smart TV segments saw 42 per cent and 75 per cent YoY growth, capturing 19 per cent and 6 per cent market share respectively,” said an IDC analyst. “The market is expected to rebound later in 2025.”
