Increasing demand for large screen sizes with the inrush of premium features such as Dolby support, have expand to stand up in the average selling price of television sets in India. Talking to Mint, Anshika Jain, senior research observer at Counterpoint Research, said while average prices of TVs in India was around Rs. 26,000 in Q1 last year, the same saw a 27% year on year increase to be around Rs. 33,000 in the first three months of 2022.
Jain added that the average price of premium televisions priced above Rs. 30,000 also saw a 10.7% year on year increase in Q1 2022 up from around Rs. 56,000 a year ago to Rs. 62,000 this year.
On Thursday a Counterpoint report on India’s TV market said that nine of every 10 televisions sold in India were smart TVs in the first quarter of 2022 with the share of connected TVs growing by 33% in the first three months of this year. The report added that premium TVs saw a 68.6% year on year growth in shipments in Q1 2022.
Akash Jatwala, research analyst at Counterpoint, explained that larger screen sizes, more OLED and QLED TVs in the market, and the inclusion of premium features such as support for Dolby Vision and Atmos contributed to the growth of premium televisions in India. While abruptly one out of every four TVs sold in India cost above Rs. 30,000 in Q1 last year, this year, the number grew to one in every three.
Jain said TVs sized between 43 inch and 54inch make for almost one third of the total smart TV shipments in India.
To be sure order for larger screens in India has been on an augment for a while now. In April, original tools manufacturers making projectors for home and enterprise divided in India told Mint that sales of home projectors in the country grew by as much as 150% year on year uplifted by consumers spending more time at home in the aftermath of the covid-19 pandemic.
Rajeev Singh, managing director of BenQ India, told Mint in April that demand for immersive experiences and large screens boosted the sector of home projectors which has largely remained a small mover in India.”Projectors became the first choice as one could easily go for a 100-150 inch screen at a far budget price compared to TVs of the same size,” Singh added.
Counterpoint also report, added that offline retail channels still control TV sales in India, with seven out of every 10 TVs sold in India being through offline stores. However, the share of TVs sold through online stores have been growing, and increased 30% year on year in Q1 2022.
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