India Smart TV Market Slumps Amidst Price Hikes

India’s smart TV market is slumping, especially for entry-level models, as rising costs force price hikes and consumers pump the brakes on spending.

📌 What Happened?

India’s smart TV sales volumes dropped 5.7% year-on-year in Q2 2026, extending a previous 3% decline from Q1.

The entry-level segment, specifically TVs 43-inch and smaller, saw a sharper 6.8% fall.

Prices for 32-inch to 43-inch smart TVs jumped almost 17% in Q2 due to memory costs surging nearly four-fold since December 2025 and a weaker rupee.

Larger screens, above 43 inches, were more resilient, experiencing only a 3.5% decline.

💰 Why It Matters

Rising input costs, particularly for memory and imported components, directly hit consumer affordability, especially for budget-conscious buyers.

This slowdown signals a broader consumer spending caution in India, impacting non-essential electronics purchases.

The market trend towards premiumization is still alive, but current inflation could slow down upgrades for a significant portion of consumers.

Companies like Dixon Technologies, Havells India, and LG Electronics India face pressure as demand weakens and input costs remain high.

👀 What to Watch Next

Expect further smart TV price increases, potentially up to 10% in Q3, which could further dampen demand.

The crucial festive season outlook is uncertain; higher prices plus existing retail inflation could make it a tough period for sales.

Keep an eye on currency fluctuations and global memory chip prices, as these directly influence manufacturing costs and future pricing strategies.