Smart TV shipments have slowed during the first quarter of 2022 after a period of growth during the pandemic -- with a 9.2% decline, according to Kagan, a media research group of S&P Global Market Intelligence.
At the same time, smart TV revenues saw growth of 10% to $16.63 billion -- contributing to and fueling inflation.
Due to component shortages, the average selling price of a smart TV set jumped 21% to $496.
Kagan notes that these revenue estimates are only for TV unit sales, which does not include smart TV-related advertising or platform distribution fee revenues.
Chinese-based smart TV companies are growing twice as fast as Korean and Japanese-based brands -- which have seen 19% and 27% year-over-year growth respectively, Kagan says.
Samsung remains the biggest global smart TV manufacturer -- with a 28.1% share. It added 9.8 million units in the period. LG is next 14.3% (growing 4.7 million); TCL, 10.7% (4.6 million); Sony, 6.3% (1.5 million); Xiaomi, 5.3% (3.0 million); and Vizio 4.1% (1.4 million).
The total smart TV global base for the first quarter is now at 786 million units, with the first quarter adding 33.6 million.
In terms of smart TV on-screen interface technology, Samsung's Smart Hub (Tizen) is tops: 23.1%; WebOS, 12.3%; Android TV, 12.2%; Roku, 5.9%; Skyworth, 4.3%; and TV+OS, 3.9%.