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India's Smart TV Shipments Fall But Demand For QLED TVs Went Gone Up Last Year: What It Means – News18

India's Smart TV Shipments Fall But Demand For QLED TVs Went Gone Up Last Year: What It Means – News18

Last Updated: April 01, 2024, 16:54 IST

India is seeing big demand for QLED TVs but the budget smart TV is losing touch

The smart TV segment in India has seen the demand for budget TVs go down while the premium QLED TVs find more buyers. How is that possible?

The smart TV segment in India is going through an interesting change in buying trend that has its positives and negatives. New report claims the smart TV shipments in India declined 16 percent (year-on-year) in 2023 but QLED smart TV shipments increased by 110 percent YoY, a new report showed on Thursday.

The decline was attributed to a slow start in the first half of the year due to macroeconomic challenges and excess inventory, along with an increase in panel prices and reduced demand for smaller screen-size smart TVs due to which, certain long-tail brands exited the market in 2023, according to Counterpoint Research.

โ€œThe shipments of larger screen smart TVs (55-inch and above) increased by 29 percent YoY in 2023 as consumers are starting to prefer premium models with better features for their living rooms,โ€ said research analyst Akash Jatwala.

Display technology, screen size and 4K resolution are among the primary specifications that consumers looked for while making a new purchase. Smart TVs are gaining popularity due to streaming of sports events, TV series, and movies, which creates stickiness among consumers.

โ€œSmart TVs are now equipped with enhanced display technologies and upgraded features like Google Assistant and bezel-less display,โ€ said senior research analyst Anshika Jain.

QLED TVs are gaining popularity as leading brands such as TCL, Hisense, Acer, Kodak, Thomson, and other long-tail brands have started offering them in 43-inch screen size variants and at lower prices (sub-Rs 30,000), due to which its shipments more than doubled in 2023.

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – IANS)

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