India's smart TV market experienced a 3% year-on-year decline in Q1 2026, according to Counterpoint Research data. The downturn was primarily attributed to macroeconomic pressures including inflationary concerns, rupee depreciation, LPG crisis, regional conflicts, and geopolitical uncertainties that weighed on household spending. The slowdown was largely driven by weaker demand in the entry-level segment, as consumers postponed purchases of big-ticket appliances amid economic uncertainty. Brands also adopted a cautious approach by limiting new product launches amid subdued market conditions, reflecting the challenging operating environment.
Despite the overall market decline, the premium end of the market continues to buck the trend, with TVs sized 55 inches and above emerging as the fastest-growing category during the quarter, accounting for nearly one-third of shipments. The ₹40,000-₹50,000 price band remained the most popular category for larger televisions, offering a balance of screen size, features and pricing. QLED's share rose to 30%, indicating a clear shift toward higher-end technology adoption, with the ₹20,000-₹30,000 price segment recording particularly strong demand for QLED models. This premiumisation trend has been reinforced by easier financing options and wider availability of comparatively affordable large-screen televisions.
According to Counterpoint Research data, miniLED remained the fastest-growing display technology, expanding more than 13 times from a year earlier, albeit from a small base. The rapid growth in miniLED technology suggests increasing consumer appetite for advanced display technologies, with growth largely driven by demand for televisions measuring 55 inches and above. Meanwhile, conventional LED televisions continued to dominate the market but saw their share decline from 83% in Q1 2025 to 63% in Q1 2026, indicating a gradual shift towards more advanced display technologies. OLED and other display formats retained comparatively small market shares during the period.
Industry executives indicate that the FIFA World Cup has reinforced this premiumisation trend, suggesting that major sporting events continue to influence consumer purchasing decisions in the television market. The contrasting performance between entry-level and premium segments highlights the differentiated impact of macroeconomic pressures across different price points in India's smart TV market. Despite the overall decline, the market's shift toward premium formats and advanced display technologies indicates a structural change in consumer preferences toward higher-quality, feature-rich televisions even during challenging economic conditions.
