HIGHLIGHTS

Xiaomi’s smart TV market share in India experiences a noteworthy decline in 2024, according to IDC data.

The Indian smart TV market continues to expand, especially for larger models of 55 inches and above, as well as offline sales.

The waning demand for Xiaomi smart TVs parallels a significant drop in its smartphone shipments within India.

Xiaomi is currently facing one of its toughest challenges since it first established its presence in the Indian market over ten years ago. The Chinese electronics manufacturer is witnessing a downturn across multiple categories and segments. Recent reports from leading research firms have highlighted a pronounced decrease in Xiaomi’s smartphone shipments, and now the latest IDC data indicates that the demand for Xiaomi smart TVs is also dwindling in India.

In 2024, Xiaomi has suffered a loss of more than 10 percent in market share compared to the previous year. The company now commands a market share of just 11.7 percent, down from 14.2 percent last year. This decline is particularly striking given that the overall smart TV market in India grew by 8.6 percent during the same period, reaching sales of 12.1 million units, as noted in the IDC report.

The growth of the smart TV segment was largely driven by models 55 inches and larger, which witnessed an impressive growth rate of 43 percent. Additionally, offline sales have recorded a 20 percent increase, signifying a consumer shift toward larger television sets. This trend reflects the evolving preferences of buyers in the market.

Most key competitors, with the exception of Xiaomi, experienced notable growth during this timeframe. Samsung and LG emerged as industry leaders, capturing market shares of 16.1 percent and 15.1 percent, respectively.

Debasish Jana, Research Analyst at IDC, noted, “In 2024, the market for 55-inch and 65-inch smart TVs showcased remarkable year-on-year growth of 42% and 75%, thereby occupying 19% and 6% of the total market share, respectively. We anticipate a market rebound in the forthcoming quarters, projecting mid-single-digit growth in 2025.”

Furthermore, Jana elaborated that the Indian smart TV market began on a sluggish note in 2025, with a year-on-year decline of 7 percent in January and February. However, a recovery is anticipated in the near future.

Notably, both Canalys and Counterpoint Research have reported that Xiaomi has faced the steepest decline in smartphone shipments among major brands, pushing its market share below the 15 percent mark. A report from Digit delved deeper into the company’s operational strategies in India, highlighting issues such as a significant disconnect with retailers, the absence of compelling products, and inflated inventory levels.