Global technology brand OnePlus has emerged as the fastest growing smart TV brand in India in the first half of 2022, in terms of shipments, with a staggering 123 percent year-on-year (YoY) growth rate, a report said on Monday.
The first half of 2022 saw OnePlus — a predominantly smartphone company — become the fastest growing smart TV brand in India in terms of shipments, with a staggering 123 percent year-on-year (YoY) growth rate.
According to a report by Counterpoint Research, the growing preference for affordable premium smart TVs offering a quality user experience and sales growth across channels has resulted in OnePlus claiming a stronger market share.
This has also led to OnePlus scaling to the top three smart TV brands in India in the second quarter of 2022 as per the report.
OnePlus particularly witnessed an incredible growth rate of over 250 percent YoY on its shipments in the sub-Rs 30,000 price segment with OnePlus TV Y1, Y1S, Y1S Pro and Y1S Edge serving as the major volume drivers for the brand. In addition to this, OnePlus TV Y1, Y1S and Y1S Pro were amongst the top 10 best-selling smart TV models in the second quarter of 2022.
"OnePlus took the third spot for the very first time with 123 percent YoY growth in the first half of 2022 driven by the continued popularity of its affordable Y series, better product features, and strong marketing efforts," said Anshika Jain, Senior Research Analyst at Counterpoint Research India.
In line with the brand's growing user community and increasing rate of consumer demand in 2019, OnePlus ventured into the smart TV segment in India with the launch of its OnePlus TV Q1 series, a high-end premium range of OnePlus TVs.
Xiaomi led the country's Smart TV segment with a 13 percent market share in Q2 2022, with Samsung in the second spot with a 12 percent share.