Smart TVs with the latest features are in season now. They are selling like hot cakes. The latest TVs and the reduced price in the market have increased the sales even further. The newer companies are also introducing their unique USPs. It is helping the TV companies even more.
Premium TVs are gaining momentum in India. They are in high demand. Especially, after the pandemic, as people are spending more time in their homes. The demand for complete family entertainment electronics has increased.
The average price of TVs sold in India is 26000 rupees. But now it has increased to a price of 33000 rupees. The average size of premium TVs that are selling more in India has a screen size of 43 inches to 54 inches. The TVs of this screen size make for around one-third of the smart-TV shipments in India.
On the other hand, the demand for the electronics like home projectors and home theatre systems has also increased. The OEMs, manufacturing these devices, have seen a jump of 150% in the shipments of such devices.
In the market, the demand for 100-150 inches screens is cheaper when compared to TVs of the same screen size. Previously, one in every four TVs sold in India was from a premium segment. Now, it has reduced to one in every three TVs. The premium segment accounts for TVs at a price greater than 30000 rupees.
Market-wise, offline sales are still more for TVs when compared to online market sales. But online sales are also increasing 30% year on year.
The introduction of new latest features like Dolby Atmos and better screens is also pushing the demand. The average price of smart TVs above 30000 rupees has also increased. The average price of 56000 rupees has increased to 62000 rupees. Better technologies have also increased the demand for TVs. The better technologies and features have improved the viewer experience. So instead of going to theatres for movies, some people are choosing to stay at home and enjoy themselves. The OTT platforms have also increased the expectations and quality of content available for viewers.
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