India's TV Market Stays Stable; Larger Screens Drive Growth

India’s Smart TV Shipments Remain Flat in 2025, Festive Demand Drives Q4 Growth​

New Delhi, March 25 – India’s shipments of smart TVs remained broadly flat year-on-year in 2025, according to a report released on Wednesday by Counterpoint Research. The first half of the year experienced a slowdown due to softened consumer sentiment and delayed upgrades. However, stronger festive demand in the latter half of the year, supported by a reduction in the GST rate on televisions with screen sizes 32 inches and above, resulted in a 10% year-on-year growth in shipments during the fourth quarter.
The report highlighted that televisions priced between Rs 40,000 and Rs 50,000 demonstrated strong performance, capturing a significant share of the market as consumers increasingly sought televisions with enhanced features. Larger screen sizes continued to gain market share, with 43-inch models leading in shipments, followed by models measuring 55 inches and above.
Quantum Dot LED (QLED) shipments nearly doubled year-on-year, while MiniLED experienced the highest growth from a low base. QLED technology expanded its presence across various price points, particularly in 43-inch and 55-inch sizes, and gained traction in the mid-range segment. MiniLED’s growth was partially attributed to its lower price point and brands’ efforts to position it as a more affordable alternative to OLED.
The market weakness in the first half of 2025 was attributed to reduced consumer spending due to cautious discretionary behavior. However, the market rebounded in the second half of the year thanks to festive offers, improved financing options, and increased affordability of larger-screen televisions.
“India’s smart TV market remained largely flat in 2025, but we expect steady growth in 2026 as the replacement cycle for pandemic-era purchases kicks in and affordability improves for larger screens,” stated Principal Research Analyst Anshika Jain. She also noted that a potential rise in DRAM and NAND prices could impact margins and limit aggressive pricing strategies in the near term.