India’s smart TV shipments remained broadly flat YoY in 2025, according to Counterpoint’s IoT Service, as a weak first half was offset by stronger festive-led demand in the latter part of the year, with Q4 shipments growing 10% YoY. In H1, weaker consumer sentiment led to cautious discretionary spending, with consumers delaying upgrades due to the absence of strong promotional events. However, the market improved in H2, supported by festive offers, better financing schemes and improved affordability of larger-screen televisions, further aided by the GST rate cut on TVs above 32”.   

India Smart TV Shipments Market Share by Size, 2025 vs 2024

Commenting on the market outlook, Principal Research Analyst Anshika Jain said, “India’s smart TV market remained largely flat in 2025, but we expect steady growth in 2026 as replacement cycle kicks in for pandemicera purchases and affordability improves for larger screens. We expect 43” and 55” + models to remain the primary growth drivers driven by better financing schemes and a wide variety of affordable options. At the same time, the market witnessed a clear premiumization trend, with the INR 40,000 – INR 50,000 price band outperforming the broader market as consumers increasingly preferred feature-rich TVs, driven by rising aspirations and a growing inclination towards better overall viewing experiences.” 

“However, rising DRAM and NAND prices are likely to increase the bill of materials for feature-rich TVs, putting pressure on margins and limiting aggressive pricing in the near term.” She added. 

A sharper shift toward larger screen sizes became evident during the year, with 43” accounting for the highest shipment share as it became the default consumer choice, while 55” and above emerged as the key growth segments. Demand for 55” and above televisions continued to strengthen, driven by festive led purchases and consumers increasingly upgrading for an enhanced home entertainment experience, further supported by the GST rate cut on TVs above 32”. 

QLED shipments nearly doubled YoY in 2025, expanding their presence across price tiers, driven by wider availability in key sizes such as 43” and 55” and stronger penetration in mid-range segments. At the same time, MiniLED recorded the highest growth during the year, partly due to its low base but it reflects brands efforts to scale up portfolios and position it as a more affordable alternative to OLED. 

The top five brands continue to capture over 55% of the market. However, competition intensified during the year, with Lumio and VZY entering India’s smart TV market, highlighting continued interest in the category. This also highlights how new players are looking to capitalize on evolving consumer demand, further intensifying pressure on established brands to differentiate and remain price competitive. 

The Sony–TCL partnership announced in January 2026 is expected to strengthen Sony’s positioning going forward, combining its picture capabilities with TCL’s manufacturing scale and panel expertise. Over time, this could help Sony improve cost efficiencies by further bringing down its ASP. 

The Consumer IoT research relies on sell-in (shipments) estimates based on India imports and local manufacturing data, triangulated with OEM feedback, channel feedback and secondary research. 

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You can also visit our Data Section (updated quarterly) to view the other CIoT market insights across regions/countries. 

About Counterpoint Research 

Counterpoint Research is a global market research firm specializing in products across the technology ecosystem. We advise a diverse range of clients – from smartphone OEMs to chipmakers and channel players to Big Tech – through our offices located in the world's major innovation hubs, manufacturing clusters and commercial centers. Our analyst team, led by seasoned experts, engages with stakeholders across the enterprise – from the C-suite to professionals in strategy, analyst relations (AR), market intelligence (MI), business intelligence (BI), product and marketing – to deliver services spanning market data, industry thought leadership and consulting. Our core areas of coverage include AI, Automotive, Consumer Electronics, Displays, eSIM, IoT, Location Platforms, Macroeconomics, Manufacturing, Networks and Infrastructure, Semiconductors, Smartphones and Wearables. Visit our Insights page to explore our publicly available market data, insights and thought leadership, and to understand our focus, meet our analysts and start a conversation. 

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