New research paper is added in 86-page HTF MI Database titled “ India LED, LCD, HD, UHD TV Market in 2020 ” with detailed analysis, competitive landscape, forecast and strategies. The study covers the geographic analysis which includes regions and major players / suppliers such as BPL Limited, Intex Technologies (India) Limited, Hitachi India Private Limited, LG Electronics India Private Limited, Panasonic India Private Limited, Philips India Limited, Samsung Electronics India Private Limited, Sony India Private Limited, TCL India, Xiaomi Technology India Private Limited. The market has seen continuous growth in recent years and is expected to experience some stability after Q2 2020 and may grow further in the forecast year 2021-2026
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Television is one of the fastest growing consumer durables in India. The country has more than 200 million potential TV households by 2019; however, the market is largely under-penetrated. The rapidly changing technological environment, lowering production costs and increasing accessibility for consumers have propelled the growth of the industry over the years. However, increased usage of replacement devices and declining profitability are imminent to the market growth.
The open cell panel is considered to be the most crucial component in the manufacture of LED TVs (open cell panels represent 65% to 70% of the production cost of the TV). Lowering import duties on open cell LED TV panels from 5% to zero has significantly reduced TV prices and further boosted industry growth.
In addition, to promote local manufacturing under the Atmanirbhar Bharat Abhiyan (Autonomous India Mission); the Indian government has restricted the importation of fully built televisions. This move would lead to backward integration with increased investment in improved assembly lines and component production.
Covered Companies: BPL Limited, Intex Technologies (India) Limited, Hitachi India Private Limited, LG Electronics India Private Limited, Panasonic India Private Limited, Philips India Limited, Samsung Electronics India Private Limited, Sony India Private Limited, TCL India, Xiaomi Technology India Private limited
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The flat panel television (LED, LCD, HD and UHD) market in India was valued at INR 795.71 billion in 2019 and is expected to reach INR 2,044.29 billion by 2025, with a compound annual growth rate ( CAGR) of about 15.7%. during the period 2020-2025.
The flat screen TV market in India can be segmented into smart TV and non-smart TV. Smart TVs represent a significant share (over 75%) of the overall TV market. Foreign players like Xiaomi, OnePlus and Realme have disrupted the smart TV segment with the launch of its budget product line. Domestic players are rapidly reducing prices to combat fierce competition from the industry. Xiaomi is a leader in the smart TV segment with a share of around 29.50%, followed by LG, Samsung and Sony.
In terms of display size, TVs between 32 and 43 inches represent a notable percentage of sales, as they are affordable for most of society.
However, with the onset of COVID-19, the sale of larger screens (43 inches and above) surpassed 32-inch TVs, which were the bread and butter of the industry.
In addition, the reduction in the rates of the Goods and Services Tax (GST) has truncated the prices of televisions in India.
Impact of COVID-19
Businesses around the world have suffered greatly from the COVID-19 pandemic. However, the virus outbreak and the lockdown that followed revived the Indian TV market after two years of declining sales. In August 2020, models of large-screen TVs (55-inch and above) saw sales growth of 30% to 40% compared to the pre-COVID period. Additionally, TV manufacturing companies have seen an increased demand for smart TVs that can be directly connected to streaming devices. Amid the crisis and troubled relations with China, location is key to the success of the Indian television industry.
• BPL Limited
• Intex Technologies (India) Limited
• Hitachi India Private Limited
• LG Electronics India Private Limited
• Panasonic India Private Limited
• Philips India Limited
• Samsung Electronics India Private Limited
• Sony India Private Limited
• TCL India
• Xiaomi Technology India Private Limited
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Chapter 1: Executive summary
Chapter 2: Socio-economic indicators
Chapter 3: Introduction
3.1. Market definition and structure
Chapter 4: Market Overview
4.1. Market Size and Growth Forecast (2018-2025) – Based on Value
4.2. Market Size and Growth Forecast (2018-2025) – Based on Volume
4.3. Impact of ‘Atmanirbhar Bharat Abhiyan’ or ‘Self-sufficient
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