Xiaomi's market share declined to 11.7 percent in 2024 from 14.2 percent reported in 2023.
Xiaomi, TCL and Sony are in the third, fourth, and fifth positions, respectively.
Photo Credit: Xiaomi
India's smart TV shipments recorded growth of 8.6 percent year-over-year (YoY) in 2024, pointed out International Data Corporation (IDC). The growth was fueled primarily by the increased demand for smart TVs with 55-inch and larger displays and a rise in offline shipments, the report stated. Samsung led India's smart TV market in the previous year with a 16.1 percent share, closely followed by LG. Chinese tech brand Xiaomi, TCL and Sony came in the top five.
IDC shared insights about India's smart TV shipments in 2024 on LinkedIn. As per the post, the domestic smart TV market grew 8.6 percent YoY in 2024. India managed to ship 12.1 million units in the previous year, and IDC observed that the surge was driven by a 43 percent jump in 55-inch+ TVs and a 20 percent rise in offline shipments. However, online shipments fell by 8 percent.
Samsung had a major share of India's smart TV shipments and maintained its top position in 2024 with a market share of 16.1 percent. The South Korean company registered 35.9 percent YoY growth. LG clocked an impressive performance and took the second spot with a 15.1 percent market share. It also witnessed a 42.2 percent YoY growth.
Xiaomi dropped to the third spot with an 11.7 percent market share. The brand had a 14.2 percent market share in 2023. IDC noted that the Chinese brand posted a 10.1 percent YoY decline in its shipments.
TCL and Sony took the fourth and fifth positions with a market share of 8.4 percent and 8.2 percent, respectively. TCL posted a YoY growth of 21.1 percent, while Sony registered a YoY growth of 26.9 percent.
IDC observed that 2025 was off to a slow start for the Indian smart TV market with a 7 percent YoY dip in January-February. An IDC analyst is predicting a rebound later this year.
"In 2024, the 55-inch and 65-inch smart TV segments experienced remarkable YoY growth of 42 percent and 75 percent, capturing 19 percent and 6 percent share, respectively. The market is expected to rebound in the upcoming quarters, leading to a mid-single digit growth in 2025" he said.
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