India’s smart TV shipments declined 16%, prices to go up in H1 2024: Report
The HinduIndia’s smart TV shipments declined 16 percent y-o-y in 2023, according to Counterpoint’s IoT service. It was due to a slow start in H1 2023 due to macroeconomic challenges, 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. Panel prices are likely to increase during H1 2024 in line with global price trends, and brands are likely to increase the prices of smart TVs as a result, the report said. For 2024, the research firm expects smart TV shipments to increase by 9%, as the demand for premium models will increase and consumers will likely upgrade to a larger screen. Smart TVs are now equipped with enhanced display technologies and upgraded features like Google Assistant, ALLM, MEMC, and bezel-less display,” said Anshika Jain, Senior Research Analyst, Counterpoint.