OnePlus, fastest-growing smart TV brand in India
It has registered 123% sales growth in the first half of 2022: Report
Bengaluru: 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 per cent year-on-year (YoY) growth rate, a report said on Monday.
According to 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. "At OnePlus, we continued to strengthen our vision of building a premium accessible connected ecosystem. This achievement is a testament to our dedication towards providing the best of innovative technology to our user community," Navnit Nakra, India CEO and Head of India Region, OnePlus India, said in a statement.
"We are humbled and grateful to our India community for their trust and are further driven to build products that embody our 'Never Settle' approach. Furthermore, our core philosophy of offering a burden-less user experience has been crucial towards driving our success in the smart TV category. Therefore, we will continue to deliver on our core values." Nakra added.
This has also led to OnePlus scaling to the top three smart TV brands in India in Q2 2022 as per Counterpoint Research report.
As per the report, OnePlus particularly witnessed an incredible growth rate of over 250 per cent 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 per cent 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.