How Smart TVs in India are Getting Smarter and Cheaper

Like the rest of the world, many Indians have turned to smart televisions (TVs) for a consolidated platform for all of their entertainment needs. 

The ‘Make in India’ initiative, driven by the Indian government, has promoted domestic manufacturing in many industries. It has increased exports of electronic goods, including semiconductors, and has also encouraged companies to gradually reduce dependence on international original equipment manufacturers (OEMs). 

Abhijeet Rajpurohit, COO and co-founder of homegrown smart TV Operating System CloudTV, revealed how he recognised a significant need for independent creation, particularly because Indian factories and brands faced challenges in obtaining resources from global operating systems. At that time, these international companies often played hardball with Indian producers due to the relatively small size and scale of the economy, which was still developing and less mature than that of the West in terms of the smart TV market.

“Regardless of how much we would want to push Make in India, it is a shift that’s going to take time. When Make in India started, we slowly worked towards the assembly of these devices. After a couple of years, the government has started directly pushing the manufacturing of chipsets in India,” Rajpurohit said. However, these raw materials are elemental and naturally scarce, which further limits their availability despite technological advancements. 

Hence, companies don’t shy away from still collaborating with the global supply chain, including Indian manufacturing companies and TV brands. 

CloudTV’s programming approach is centred around India, with a clear understanding of the television brands and price segments they target. By collaborating with various content providers and streaming applications, the system recommends a diverse range of content.

Moreover, it strongly prefers long-tail content, such as sports, and focuses on showcasing programming that resonates with the tastes of the Indian audience. The app’s voice assistant understands and learns from regional languages such as Hindi, Punjabi, Marathi, Haryanvi and Gujarati, to name a few.

“We are also scaling for more languages every couple of quarters. Our goal is to cater to a lot more people to make their access to watching smart TVs easier in their languages,” Rajpurohit added. 

The startup operates as a full-stack solution, with no reliance on external services. “We don't depend on other services as a blocker mechanism,” he explained. While Alexa still exists as a voice assistant, the company has developed its capabilities.

Rajpurohit foresees smart TVs replacing traditional set-top boxes, evolving into multifunctional devices that will facilitate TV commerce and integrated shopping experiences. Although it’s early to predict the exact developments, the competitive landscape will focus on delivering the best user experience.

Reports show that smart TV shipments increased by 6.7% year-on-year in Q4 2024, totalling over 63.3 million units. The global smart TV market is recovering after three years of weak performance, driven by economic challenges and geopolitical tensions. Samsung leads with a 16.9% market share, followed by TCL (13.9%), Hisense (12.8%), and LG (11.1%). 

Moreover, local manufacturing has substantially reduced costs, making smart TVs accessible to mass consumer segments in India. Chinese brands hold a substantial market share of 30% in India, primarily in the budget and mid-range segments. Japan and South Korea remain leaders in premium segment offerings, but at higher price points, Indian consumers now have access to premium models with parity.

This has led to Indian buyers strongly benefiting at the lower tiers, with matched value at premium levels.

However, Anshika Jain, a senior analyst at Counterpoint Research, pointed out, “AI-enabled smart TVs remain in the early stages of adoption, with major players gradually offering advanced features such as adaptive picture and sound, as well as multilingual voice assistants.”

Rajpurohit highlighted that smart TVs have made significant contributions to the Indian electronics ecosystem. About 10 years ago, many Indian mobile brands disappeared due to challenges, leading to a surge in foreign manufacturers engaging in price wars, he added. 

If CloudTV hadn't entered the market, a similar trend might have developed in the television sector, he said. The company aims to benefit both brands and users by reducing reliance on global supply chains and partnering with local brands and content providers in India.

“India’s smart TV market declined 7% YoY in 2024 due to a slower replacement cycle, macroeconomic situation, and a decline in shipments of Chinese brands, which accounted for 28% of total volume in 2024. With household penetration at roughly 70%, there remains considerable room for growth, driven by rising consumer demand for premium models, local manufacturing, replacement of older units, and the growing trend of multiple TVs per household,” Jain further explained.

In Q1 2025, global advanced TV shipments increased by 44% YoY, with revenues rising 35%, according to Counterpoint Research. TCL and Hisense drove this growth by more than doubling shipments compared to the previous year, edging closer to Samsung’s long-standing dominance.

According to reports, the global smart TV market was valued at $290.7 billion in 2024 and is projected to reach $475.0 billion by 2033, growing at a CAGR of 5.56% from 2025 to 2033. Key growth factors include rising demand for interactive entertainment, device convergence, and increased internet penetration.

Demand for smart TVs is growing, as they serve as a hub for controlling smart home devices, including voice assistants and security systems. The popularity of smart TVs with gaming features and support for gaming platforms is also driving this market growth.

“As more users upgrade to larger screens and feature-rich models, India is expected to witness growth in the upcoming years. Compared to advanced markets like China, Japan, and South Korea, India remains price-sensitive, though a gradual shift toward premiumisation is taking shape as buyers begin to value performance and quality alongside affordability,” Jain concluded.