arket researcher DisplaySearch has estimated shipments of flat panel TVs in India (mainly LCD TVs) are expected to grow from 5.5M units in 2011 to 20.8M units in 2015, a CAGR of 39%. DisplaySearch says continued price declines and new low-cost designs developed by panel and set makers will drive continued growth of flat panel TVs in India, with growth expected to exceed 100% Y/Y in 2012. According to DisplaySearch in 2011, flat panel penetration in India is only 33%, so there is a huge potential for CRT replacement. The higher growth rates for flat panel shipments in India are likely to have an impact on the Asia Pacific market, given India's share of the region's GDP and population, finds DisplaySearch.
The other finding by DisplaySearch includes:
After the growth driven by the 2011 Cricket World Cup in India, the total TV market in India for Q2'11 was 3.7M units, accounting for 41% of the Asia Pacific TV market.
In Q2'11, the unit penetration of flat panel TVs reached 56% in Asia Pacific, the lowest of any region, according to the data published in the DisplaySearch Advanced Quarterly Global TV Shipment and Forecast Report. In India, CRT still dominates the TV market, as flat panel TV unit penetration was 28% in Q2'11, down from 29% in Q1'11.
LCD TV shipments continue to increase, with Y/Y unit growth of 62%, reaching 1.0M units, down from 99% in Q1'11 when the 2011 Cricket World Cup was held.
In Q2'11, the most popular flat panel TV size range in India was 22-24", with 44% share, significantly more than the 28% held by 32", the leading screen size in most regions. India is unique in that 22-24" has the highest share, much higher than other regions whose average share of 22-24" is 9%.
There is strong competition among the three major brands in India, which have a combined share of around 60% in the Indian flat panel TV market. Sony maintained the top unit share for the last three quarters, with 20.4% in Q2'11. Samsung maintained second place with a 19.5% share, followed by LGE at #3 with 17.4%. Domestic brands Videocon and Onida have each nearly tripled their shipments over the past year. As flat panel TV growth in India over the next few years is expected to be driven by increasing penetration in semi-urban and rural markets where local brands have an advantage, the three foreign brands can expect continued challenges.
* Videocon shipments include its sub-brand of Philips in India.
Source: DisplaySearch Quarterly India TV Shipment and Forecast Database