India Smart TV Shipments Declined 5% YoY in First Half of 2023

Shipments of smart TVs in the screen size range of 55” and above increased 18% YoY.
Smart TV contribution to overall TV shipments was over 91% in H1 2023.
Online channels contributed 39% of the overall shipments during the year.
Dolby Audio has become the de-facto audio technology for smart TVs.

New Delhi, Boston, Toronto, London, Hong Kong, Beijing, Taipei, Seoul – October 3, 2023

India’s smart TV shipments declined 5% YoY in H1 2023, according to the latest research from Counterpoint’s IoT Service. The decline was primarily due to the prevailing inflation and other macroeconomic headwinds in the country, which forced people to restrict their purchases to essential items.

Commenting on the market trends, Research Analyst Akash Jatwala said, “Many people bought their first smart TV during the COVID-19 pandemic, especially the 32” size. After experiencing the benefits of smart TV, they are now preferring bigger screen sizes for their living rooms, especially 43” and 55”. In H1 2023, the demand for bigger screen size smart TVs (55” and above) increased by 18% YoY. Further, consumers looking to upgrade their smart TVs will prefer a premium product due to the availability of better features.

Smart TV share in overall shipments reached its highest ever of 91% during the first half of 2023. This share is expected to go up further due to the increasing broadband penetration and the rising popularity of OTT platforms, among others.”

Source: India Smart TV Shipments Model Tracker, Q2 2023
Note: Xiaomi’s share includes Redmi’s share

Looking at the market dynamics, Senior Research Analyst Anshika Jain said, “The OTT services are helping in the growth of smart TVs due to the streaming of popular sports events, TV series, and movies, which creates stickiness among the consumers. Both OTT services and smart TVs offer a better viewing experience due to enhanced display technologies and the availability of features like Dolby Atmos and Dolby Vision.

While Dolby Audio surround sound has become the de facto audio technology for smart TVs, we are now seeing many smart TV SKUs also supporting both Dolby Atmos and Dolby Vision. Smart TVs with these features are now available in the price range starting from INR 20,000. With the upcoming festive season, rising consumer awareness, and broadcast of multiple sports events, especially the Cricket World Cup, on the OTT platforms, Dolby’s penetration is expected to increase further in the smart TV segment.”

QLED TVs are becoming popular in the mid-segment (INR 30,000-INR 50,000) as most of the brands are launching affordable QLED TVs with smaller screen sizes. QLED TV shipments increased more than 21% YoY in H1 2023 and their contribution in the overall smart TV sales is expected to rise further.

Market summary for H1 2023

Xiaomi continued to lead the smart TV market in H1 2023 with a 10% share. During this period, Xiaomi launched the X Pro series, Mi TV X series and Mi TV 5A Pro series.
Samsung took the second spot in the smart TV market in H1 2023. During the period, Samsung launched newer models in its QLED series and Crystal 4K series. Samsung also held a TV fest where it offered great deals on the S23 Ultra and The Freestyle projector and a soundbar with selected QLED and OLED models.
OnePlus was one of the fastest-growing brands and ranked third in H1 2023. The Y1S and Y1s Pro series were among its bestsellers. During the period, OnePlus launched QLED TV Q2 Pro.
LG took the fourth spot in the smart TV market in H1 2023. During this period, the company launched multiple OLED models, including a 97” model. LG also had multiple promotions, where it offered a free soundbar, additional warranty and cashback on selected models.
TCL ranked fifth in H1 2023 and was among the fastest-growing brands. During the period, TCL launched multiple new models, including in the 32” screen size, and held contests where it offered TCL products to the winners.
Acer (707%) and Sansui (148%) were also among the fastest-growing brands during the period. Both updated their portfolios and launched new models, which fetched good consumer response. With an increase in market share, Acer also entered the list of top-10 best-selling smart TV brands.
Incumbents such as Xiaomi and Samsung are facing competition in the market, as other players are expanding their reach, especially offline, and launching products at different price points with better features.
TV manufacturing is increasing in India with the increasing investments by OEMs in creating manufacturing capacity. Newer OEMs are also entering the market and partnering with leading brands to make their TVs.
Consumer demand is shifting towards premium TVs for bigger screen sizes and better features. But still, the INR 10,000-INR 20,000 price band captured the largest share of 37% in the overall smart TV market in H1 2023. The shipments for entry-level budget TVs (<INR 10,000) more than doubled as this segment caters mainly to first-time buyers.

We estimate that India’s smart TV market will see a decline of 7% YoY in 2023. The second half of the year will see an increase in smart TV shipments compared to the first half due to the festive season. We will continue to see the entry of new models and an increasing push towards the online channel. The market is likely to return to normalcy in 2024 and is expected to grow by around 10% YoY. The increasing preference for premium TVs will drive the overall market’s average selling price (ASP) higher.

Note: Xiaomi’s share includes Redmi’s share

Background

Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

Counterpoint Research
press(at)counterpointresearch.com

Under-30 South Korea Survey: 85% Bought Android as First Phone; Now 53% on iOS

About 85% of South Korean smartphone users aged less than 30 had an Android phone as their first smartphone, but 53% of them now use iPhones.
The biggest reason for these Android phone users to switch to iPhones was expectations related to performance, particularly the camera.
On the other hand, 92% of users in the same age group who used an iPhone as their first smartphone are currently using an iPhone.

About 85% of South Korean smartphone users aged less than 30 used Android phones such as Samsung and LG as their first smartphones, according to a consumer survey conducted by Counterpoint Research among 1,000 users in the first half of 2023. However, about 53% of them said that they were currently using an iPhone, suggesting that many Android phone users had switched to iPhones during replacement.

The reason why Android phones account for a very high proportion of first-time smartphone purchases in South Korea is that most users in that age group, particularly adolescence, give priority to the preference of those with real purchasing power, such as parents, when buying their first smartphone. During the survey, the largest number of respondents opted for “Recommendation from family or friends” when asked why they used an Android as their first smartphone.

Smartphone OS Switching Pattern in South Korea

Source: Counterpoint Smartphone User Experience by OS in Korea Report, H1 2023

As for the reason for switching from an Android phone to an iPhone, respondents cited “Performance” (32%) and “Brand image” (31%) as the first and second priorities. In particular, in terms of performance, satisfaction and expectation with the camera had the greatest impact on the purchase decision. Apple operates a number of R&D centers specializing in imaging technology and is evaluated to have maximized the camera performance of its devices by achieving good harmony between hardware and software. Besides, Apple recently launched a campaign called ‘Shot on iPhone’ in the South Korean market. The campaign emphasizes the iPhone’s camera performance through collaboration with a music video by Korean girl group NewJeans and a short film by director Park Chan-wook.

Source: Apple

According to the survey, in the <30 age group user base, Apple seems to have succeeded in solidifying the loyalty of existing iPhone users as well as switchers from Android phones. 92% of users who owned an iPhone as their first-ever smartphone said they were still using the brand. Furthermore, about 76% of them said they were not willing to use Android phones in the future. The respondents cited dissatisfaction with Android phones’ “Design” (52%) and “Performance” (29%) as reasons.

When considering all age groups, more than half of the respondents who said they switched from iPhone to Android cited easy-to-use features such as Samsung Pay and UI as the differentiating factors. These answers were similar to those of current iPhone users, who said they were willing to replace their devices with Android smartphones in the future. Therefore, to attract new users and secure loyal customers, marketing strategies that focus on user convenience are expected to be effective for Android smartphone brands.

Climate Change Concerns Aid LG Electronics’ Q1 Numbers

The revenue for Q1 2023 stood at KRW 16.26 trillion, a 5.7% YoY decline.
The operating profit of the company declined by 15% YoY.
The revenue from the vehicle solutions segment grew 27% YoY to reach KRW 2.4 trillion.

LG Electronics has generated relatively steady Q1 2023 earnings results thanks to the stabilization of material costs and the continued sales of high-end home appliances. The heat pumps and energy storage devices helped it earn more as the climate change restrictions tightened.

The company’s revenue declined 5.7% YoY in Q1 2023 to KRW 16.26 trillion ($12.75 billion), while the operating profit declined 15% YoY to KRW 1.36 trillion ($1.06 billion) owing to sluggish global demand. Although the profit dropped YoY, it was a considerable improvement over the losses in the previous quarter.

The business portfolio is experiencing growth through qualitative measures, particularly in expanding B2B segments such as vehicle components and system air conditioners. Besides, non-hardware business revenue continues to increase. The vehicle component solutions segment raked in high profits, contributing almost 15% to the total revenue, up from 11% in Q1 2022.

Financial highlights

The consumer electronics segment’s revenue fell 5.5% YoY to reach KRW 11.38 trillion ($8.9 billion). However, the operating profit increased by 92% owing to lower logistics costs, efficient management of raw material supply, improved spending efficiency and active measures to enhance cost structure. The contribution of this segment to LG’s Q1 operating profit rose to 89.7% from 40% in Q1 2022.
The revenue of the vehicle solutions segment grew 27.1% YoY to reach KRW 2.39 trillion ($1.87 billion) driven by high order backlogs and the electric vehicle (EV) boom in the automotive market. Supply chain management improvements for key components, like semiconductors, played a crucial role. The operating profit grew to KRW 54 billion ($42.3 million), compared to the loss of KRW 6.7 billion ($5.6 million) in Q1 2022. Although the segment contributed just 4% to LG’s Q1 operating profit, it is touted as the future growth driver.
Revenue from other businesses, which include business solutions, kept declining YoY to reach KRW5 trillion ($1.95 billion), falling 25%. The operating profit dropped 91% YoY to KRW 85 billion ($66.7 million). The segment’s contribution to LG’s Q1 operating profit was only 6.3% compared to 61% in Q1 2022.
LG Innotek’s revenue grew 10.7% YoY to KRW 4.4 trillion ($3.43 billion). The operating profit decreased by 60.4% to KRW 145 billion ($114 million). This brought LG’s consolidated revenue to KRW 20.4 trillion ($16.01 billion).

Market outlook

Amid declining consumption due to economic downturn concerns, consumer electronics revenue is expected to fall while profits will remain sluggish in the next quarter. The decreasing IT demand will also have negative impacts on yields. The huge order backlog (KRW 80 trillion) and the ongoing transition to EVs will drive the vehicle solutions segment revenue. Based on the high growth within EV markets, it is expected that the EV component business will continue to take up a larger share in the future. A reliable portfolio of in-car infotainment systems, e-powertrain, headlights and unique solutions will maintain LG’s competitive advantage.

LG Electronics is going aggressive on increasing its technological advantage over competitors. This year, the company plans to invest over KRW 5 trillion ($4 billion) in its most significant capital expenditure in 10 years, mainly in the automotive electronics business. This move aligns with the business strategy of focusing on long-term growth and prosperity. The R&D spending has also been increased by 10% this year. LG wants to sustain growth and ensure consistent profitability by proactively and adaptively addressing shifts in demand across various regions and segments. It also aims to expand eco-friendly enterprises in pursuit of revenue growth through energy-efficient and environment-friendly products.

*LG Innotek’s numbers are not included in the total revenue and have been mentioned separately.

Related reports

India Smart TV Shipments Grew 28% YoY in 2022; Online Volume 33% of Total

Indian brands showed the fastest YoY growth in 2022 and had a share of 24% in smart TV shipments.
Smart TV contribution to overall TV shipments was over 90%, the highest ever.
The average selling price (ASP) dropped by 8% YoY in 2022.
Online channels contributed 33% of the overall shipments during the year.
MediaTek chips captured around three-fifths of the total TV market.
Non-smart TV shipments declined 24% YoY.

New Delhi, Boston, Toronto, London, Hong Kong, Beijing, Taipei, Seoul – April 04, 2023

India’s smart TV shipments grew 28% YoY in 2022, according to the latest research from Counterpoint’s IoT Service. The growth for the year was primarily driven by strong shipments during the festive season in the third quarter, multiple new launches, discounts and promotions, and the demand for bigger screen-size TVs in the lower price tier. For Q4 2022, the growth was almost flat at 2% YoY due to a slowdown in demand after the festive season.

Commenting on the market trends, Research Analyst Akash Jatwala said, “Consumers are preferring bigger screen sizes, especially 43”, due to which the smart TV shipments in this display size grew 29% YoY in 2022. This size has also started trickling down to the budget price range (INR 20,000-INR 30,000 or ~$243-$364). Dolby integration is another most sought-after feature and is available in lower-price TVs too. Dolby Audio support in the INR 10,000-INR 20,000 (~$121-$243) price band increased 37% YoY and was available in about 41% of the smart TVs shipped in 2022. On the operating system side, Google TV grew multifold and was available in 4% of the smart TVs shipped during the year. Many brands are launching TVs with Google TV in the mid-segment (INR 30,000 – INR 50,000). In terms of country of origin, Indian brands showed the fastest growth and had a share of 24% in smart TV shipments during the year, whereas global and Chinese brands had 40% and 36% shares respectively.”

Looking at the market growth, Senior Research Analyst Anshika Jain said, “OnePlus, Vu, and TCL were among the fastest-growing brands in the smart TV segment in 2022. Xiaomi led the overall smart TV market with an 11% share, followed by Samsung and LG. Smart TV shipments in the INR 20,000-INR 30,000 price band grew 40% YoY to reach a 29% share. The average selling price (ASP) declined 8% YoY to around INR 30,650.”

Jain added, “Smart TV contribution to overall shipments reached its highest ever of 90% during the year. It is expected to go up further due to more launches in the sub-INR 20,000 price range and non-smart-TV-to-smart-TV migration. Non-smart TV shipments declined 24% YoY in 2022. Online channels increased their contribution to the total shipments to 33% during the year.”

Source: India Smart TV Shipments Model Tracker, Q4 2022

Notes: Xiaomi’s share includes Redmi’s share

Market summary for 2022

Xiaomi continued to lead India’s smart TV market in 2022 with an 11% share. The Mi TV 5A series and Redmi Smart TV series, especially the 32” model, were among the volume drivers for the brand. Xiaomi has updated its PatchWall with some new features and enhancements, such as content search across multiple OTT platforms, Live TV with more channels, and better recommendation with IMDB integration.
Samsung took the second spot. In 2022, Samsung launched new models in its T4000 series in 32” and 43” sizes. Apart from this, it also launched new QLED models in the >INR 50,000 price range. During the year, Samsung had promotional events like Big TV Days and Big TV Festival where it offered discounts and smartphones with selected models, with EMIs starting at a lower cost.
LG took the third spot in the smart TV market in 2022. During the year, LG launched new models in the 32” segment, its volume driver. Besides, it also launched premium QNED TVs in India. During the sales events, LG offered no-cost EMIs on selected models, one-year complimentary product insurance, and cashback.
OnePlus was one of the fastest-growing brands in 2022, growing 80% YoY and ranking fourth. OnePlus captured the second position in the <INR 30,000 price segment. The Y1 and Y1S were among its bestsellers. During the year, OnePlus launched the Y1S Pro series which saw a great response.
TCL ranked fifth during the year and was among the fastest-growing brands in 2022. During the year, TCL launched many new models, including QLED TVs, across different price segments. Some of the prominent series were the C635, P635 and P735.
Sony was among the preferred brands in the premium segment. During the year, Sony launched new budget models W820K and W830K. The brand also launched new versions of its OLED series. Most of the launches during the year came with Google TV. Sony ranked third in the premium segment (>INR 50,000).
96% of the market is being driven by LED TVs, while many brands such as TCL, VU, Sansui, Hisense, Thomson, Blaupunkt and Kodak have started launching newer QLED TV models in the >INR 30,000 price range and >50” screen size.
More than 99% of the TVs are assembled locally, with some high-end TVs being imported.
MediaTek chips had around a three-fifths share of the total TV market during the year.
Smart TVs are coming with newer features, such as integrated soundbars from leading players, video call facility, higher refresh rate for immersive gaming experience, and free Live TV channels.

Source: India Smart TV Shipments Model Tracker, Q4 2022

Notes: Xiaomi’s share includes Redmi’s share

Market summary for Q4 2022

Smart TV shipments saw flattish growth of 2% YoY owing to the slowdown after the festive season.
Xiaomi led the market with a 9% share, followed by Samsung and OnePlus at 9% and 8% respectively.
Global brands (excluding Indian and Chinese) led the market with a 39% share, followed by Chinese brands at 32% and Indian brands at 29%.
Smaller-screen TVs of 32” constituted most of the volume (47%), as they were available in the sub-INR 15,000 price segment.
OnePlus, TCL, and VU were among the fastest-growing brands in the sub-INR 30,000 price range due to the availability of newer models, and their popularity among customers.

Background

Analyst Contacts

Anshika Jain

Akash Jatwala

Counterpoint Research
press(at)counterpointresearch.com

LG Electronics Operating Profit Stumbles in Q4 2022

The operating profit of LG Electronics* declined by 133% YoY in Q4 2022.
The revenue for Q4 2022 stood at KRW 15.47 trillion, a 1.6% growth YoY.
The revenue from the vehicle solutions segment grew 44.6% YoY to reach KRW 2.4 trillion.

LG Electronics’* total revenue in Q4 2022 was KRW 15.47 trillion ($11.37 billion), a mere 1.6% YoY growth. This brought the company’s 2022 total revenue to KRW 64.71 trillion ($50.3 billion). Although LG registered a positive YoY revenue growth during Q4 2022, the operating profit declined by 133% YoY, causing losses of KRW 104 billion ($76.6 million). This was primarily due to increased marketing expenditure, increased raw material prices, and currency devaluation compared to the US dollar. The business was also impacted by the extension of geopolitical risks in Europe and interest rate hikes in many nations to reduce inflation. The worsening macroeconomic conditions weakened consumer sentiment, leading to a decline in consumer electronics sales. The vehicle solutions segment stood as a bright spot due to strong demand and order backlog from auto OEMs.

Financial highlights

The consumer electronics segment’s revenue fell 5.5% YoY to reach KRW 10.88 trillion ($8 billion). Its operating profit decreased by 127% due to rising marketing costs and fixed cost burdens. The contribution of this segment to LG’s Q4 revenue declined to 70.2% from 75.5% in Q4 2021.
Revenue from the vehicle solutions segment grew 44.6% YoY to reach an all-time high of KRW 2.4 trillion ($1.76 billion). This was primarily due to increased OEM orders and an improved automotive supply chain situation globally. Negative external factors like logistics costs and raw material supply chain are easing. Despite increasing expenses associated with running additional manufacturing subsidiaries, profits improved on increased sales. Vehicle solutions accounted for 15.5% of the total revenue in Q4 2022.
At the end of 2022, the vehicle solutions segment had a backlog amounting to KRW 80 trillion ($59 billion), underscoring the company’s position as a key supplier to the global auto industry. Infotainment accounted for more than 60% of the backlog value, xEV parts for 20%, and safety and convenience components for the rest.
Revenue from other businesses grew by 6.7% YoY in Q4 2022 to reach KRW 2.2 trillion ($1.62 billion). But low demand for IT products and global economic headwinds sent the operating profit down by 195% YoY.
LG Innotek’s revenue grew 14.4% YoY in Q4 2022 to KRW 6.5 trillion ($4.8 billion). The operating profit decreased by 60.5% to KRW 169 billion ($124 million). This brought LG’s consolidated revenue to KRW 21.8 trillion ($16.06 billion).

Market outlook

The anticipation of growing inflation, geopolitical uncertainties, mass layoffs and significant concerns about the economy weakening during the initial months of 2023 is likely to further impact LG’s profit in Q1 2023. LG aims to increase profitability by proactively cutting expenses and optimizing cost structures. LG stated that it would continue to improve the competitiveness of its premium goods like OLED TVs. Despite challenging financial conditions, LG is likely to invest around KRW 22 trillion this year in developing new sectors and broadening its business portfolio.

The vehicle solutions segment has the highest potential to earn high profits in coming quarters owing to a robust strategy to secure long-term product orders and the current order backlogs, despite uncertainties around vehicle demand in 2023. Besides, due to the high demand for infotainment and xEV components, this segment is likely to grow further, leading to a higher share of LG’s revenue.

*LG Innotek’s numbers are not included in the total revenue and have been mentioned separately.

Key Consumer IoT Themes at CES 2023: Gaming, Entertainment, Wearables, Smart Devices

After two years of virtual presence, the annual Consumer Electronics Show (CES) was back in Las Vegas this month. Major consumer electronics and technology brands like Samsung, LG, Huawei and HTC participated in the event. The consumer IoT (CIoT) announcements at the event mainly revolved around gaming, high-quality display products, advanced audio processing technologies, smart security solutions, seamless connectivity (Matter), artificial intelligence (AI) and robotics. We have covered below some of the major CIoT announcements at CES 2022:

Gaming monitors by Samsung and LG

World’s first dual UHD gaming monitor by Samsung

Odyssey Neo G9 is the world’s first gaming monitor with a dual ultra-high-definition (UHD) resolution. It has a 1000R curved 57” screen with 7,680×2,160 resolution and a 32:9 aspect ratio.
The display is equipped with quantum micro-LED technology for a better visual experience.
It is supported by the world’s first DisplayPort 2.1, which is capable of transferring data at twice the speed of the previous version.
For a smooth gaming experience, it offers a 0.1ms response time and 240Hz refresh rate. It is equipped with OTT apps (Prime Video, Netflix and YouTube) and the Samsung Gaming Hub streaming platform.
With the new monitor lineup, Samsung is focusing on enhancing the immersive experience of gamers through superior quality visual display and better refresh rate.

Other notable launches by Samsung

ViewFinity S9 is the newest addition to its monitor lineup. It comes with a 5K 27” screen for the first time. It is specially designed for creative professionals such as graphic designers and photographers.
Smart Monitor M8 has been launched in two variants – 27” and 32” – with 4K resolution. The main highlights of the device are its slick design and focus on advanced security through Samsung Knox Vault.

LG’s latest flagship gaming monitor 32GQ950

This is LG’s first-ever 45-inch curved OLED gaming monitor which offers a 240Hz refresh rate and 0.03ms (GTG) response time for low-latency gaming applications.
It has an ultra-wide 21:9 aspect ratio and 800R curvature with a 3,440×1440 resolution.
It also sports an anti-glare and low reflection (AGLR) panel design to adjust the lighting in a bright room setting.
LG also quietly showcased a new gaming laptop (LG UltraGear 17G90Q) and UltraGear gaming speakers. With these new devices, it appears that LG is also shifting its focus toward gaming.

Lenovo tablet launch

Lenovo Tab Extreme

Lenovo Tab Extreme comes with a 14.5-inch OLED display and is also supported by Dolby Vision and HDR10+ to deliver superior quality while watching movies or series. It has eight speakers which are tuned by JBL.
It is equipped with a Dimensity 9000 chipset, 12 GB of RAM, 256 GB of internal storage, 12,300 mAh battery, 68W fast-charging support and Wi-Fi 6E connectivity.
The touch display can also be operated with the in-house Lenovo Precision Pen 3.
The device is mainly targeted towards the enterprise segment. It will be available in the second half of this year in the US market for $1,199. At this price point, it is mainly competing with Samsung’s Galaxy Tab S8 Ultra and Apple’s iPad Pro.

Interesting TV launches

World’s first smart TV metaverse experience

Source Digital (a data-driven engagement platform) and Sansar (a social VR platform) showcased their metaverse offerings and capabilities on a smart TV to find new ways of monetizing the digital experience of users. The companies formed a partnership in July last year.
Through their user-friendly application, users can immersively watch real-time events such as concerts and sports events in a 2D or 3D setup. It also allows consumers to interact and engage with other people and even purchase merchandise.
The Sansar app is available on webOS LG smart TVs. Users will benefit from a personalized content experience. Last year, Samsung also partnered with Nifty Gateway to develop the first-ever smart TV non-fungible token (NFT) platform.

Samsung introduces new Neo QLED, Micro LED and OLED TVs

The Neo QLED lineup is powered by the company’s advanced Neural Quantum Processor and comes in 4K and 8K variants. The TVs are equipped with a single chip module for built-in Matter, Thread and Zigbee for seamless connectivity.
Samsung also released its bezel-less MicroLED TVs in display sizes of 50, 63, 76, 89, 101, 114 and 140 inches.
Samsung’s 2023 OLED lineup is now available in 55, 65 and the new ultra-large 77 inches models with 144 Hz refresh rate. For the first time, these Samsung OLED TV models receive AMD’s FreeSync Premium Pro certification.
With these new devices, Samsung is aiming to enhance the viewing experience with better picture quality and offering a multi-device compatibility feature which is mostly absent in premium devices.
To deliver a smooth connected device experience, this time, SmartThings syncs not just with Samsung devices but also with third-party appliances and other IoT devices. Samsung has also integrated features like Chat Together (real-time chat), ConnecTime (video calls), 3D Map View and Samsung Gaming Hub to drive user engagement.

Skyworth showcases world’s first outdoor Google TV

The new model S1 is equipped with eight speakers and is supported by Dolby Atmos and HDR10 for an enhanced audio-visual experience.
The brand is focusing on providing high peak brightness and introducing high contrast to upgrade the product experience in its new smart TV.
In addition to S1, the brand also released the W82 Transformable OLED TV, Q52 Mini LED TV, G3B QLED+ TV, and the Coolita OS smart TV system.

LG releases world’s first wireless OLED TV

LG Signature OLED M (model M3) TV is the world’s first 97-inch wireless TV that comes with an OLED display. LG is setting the benchmark for innovation with this new device.
The device supports content at 4K 120Hz and uses the company’s Zero Connect technology which is a wireless solution for the transmission of video and audio in real time.
This model also won the CES 2023 Innovation Award in two categories.

New smartwatches and TWS models from leading brands

Citizen releases Smart Sport and CZ Smart Casual

The claimed unique thing about these wearable devices is that they come with a built-in self-care advisor which offers personalized recommendations to create better routine habits.
Both these devices are supported by Google WearOS and the key differentiating factor is the case size and design.
These smartwatches are equipped with a heart rate sensor, SPO2, 1GB RAM, 8GB storage, built-in speaker, NFC and fast-charging support. Prices range from $350 to $435. These smartwatches will be available in the US from March 2023.

Fossil Gen 6 Hybrid Wellness Edition

The watch has mechanical hands that function like a vintage watch and a digital display that can be used to track health-related features and get weather-related updates.
This smartwatch is specifically designed for mechanical watch lovers and will be available at a price point of $299.

Verizon’s Gizmo Watch 3 for kids

This smartwatch comes in two attractive colors – blue clay and mint – and is specifically designed for kids to track their location for safety purposes.
It is priced at $149 and is capable of recording videos, along with the ability to send and receive messages and phone calls. It has built-in cellular connectivity.
Verizon is also offering $100 discount on the second Gizmo Watch 3 purchase for families with multiple kids.

Motorola launches new ANC earbuds: Moto Buds 600

It is the latest audio offering by the brand that comes at a price of $149.99.
The device is equipped with fast pair technology and comes with Bluetooth multi-point technology which allows the buds to be connected to two different devices simultaneously.
The device also supports Google Assistant and Wireless Charging.

JBL announces JBL Tour Pro 2 wireless earbuds

It offers the world’s first smart charging case. These earbuds come with a touchscreen on the charging case to quickly access the volume buttons, manage music, receive calls and receive social media notifications in real time without referring to an app or smartphone.
These earbuds will be available in the US for $249.95.

boAt showcases advanced audio products

boAt has partnered with tech firms such as Dolby, Dirac, Mimi and CEVA to showcase its advanced range of audio products.
boAt showcased its new Rockerz 330/333 ANC neckbands which are powered by Dirac Opteo technology.
Some of the other products launched in partnership with Dirac include the Rockerz Apex neckband, Nirvana Nebula, Airdopes Synth TWS and Nirvana 525 ANC neckband.
These new products are aimed at providing personalized audio offerings to enhance the user experience.
All the new TWS devices aim at improving the listening experience along with the diffusion of fast-charging capabilities so that they can be used for a longer duration.

Smart security products by Amazon

Amazon expanded its Ring product lineup with a new dashcam ‘Ring Car Cam’ and video doorbell ‘Ring Peephole Cam’

Ring Car Came comes with a dual-facing camera for interior and exterior view recording from the vehicle. It is also equipped with smart sensors to detect events around the vehicle. It is available for preorders at $199.99.
Ring Peehole Cam is a video doorbell that is equipped with a 1080p HD camera and motion detectors for smart security. It is now available in the US for $129.99.

Other notable smart device launches

Ring showcased a first view of its smart home security drone. It is a mini-drone that can be used as a flying security camera to spy on unusual activities at home.
Shelly, a division of Allterco Robotics, introduced eight new smart home products. The main products include a smoke alarm detector, energy meter, Android wall panel, door/window sensor, smart logs, and a Bluetooth device that can control all other smart home devices. The aim is to make these devices affordable for a large group of people.
Smartsound unveiled the world’s first AI-based smart stethoscope series under the names Skeeper R1, H1 and P1. These stethoscopes are designed to identify and monitor heart and lung sounds for remote medical treatment and home care.
Smart appliances by Samsung
- Bespoke AI Oven: This smart oven is equipped with a ‘Sense Inside’ feature which can recognize up to 80 different dishes through an AI-based image recognition system, thus offering greater convenience and helping avoid overcooking of the food. It is the first AI food recognition algorithm that has received verification from UL solutions. It is currently available in Europe and will be available for sale in North America in Q3 2023.
- Bespoke 4-door Flex refrigerator comes with a massive 32-inch touchscreen: It comes with a four-door design, and a very large display to control all other smart home devices, play music, watch videos and do grocery shopping through the SmartThings app.
- Bespoke washer and dryer pair that use AI to optimize temperature settings and determine the ideal amount of detergent for each load.
Roborock refreshed its S8 series of robot vacuums: The top model in the refreshed series is the Roborock S8 Pro Ultra which has a 6kPa suction power as compared to 5.1kPa offered in the previous version. The new series focuses on enhancing cleaning efficiency through advanced features. The price of the Roborock series starts from $749.
Withings U-Scan urine analyzer: It is a Wi-Fi-connected device that is placed inside the toilet to analyze urine. It helps in providing nutrition and hydration information along with information on women’s menstrual health.

Conclusion

Most of the smart TV players focused on delivering superior quality and fast-gaming experience through bigger-size, high-quality OLED displays and better refresh rates. This time, the focus was also on multi-device connectivity features along with Matter support. Most of the technology companies focused on improving the customer experience.

In the wearables segment, the emphasis continued to be on health-related aspects and fast-charging support. Another important area that gained traction was smart security solutions due to the need for child and elderly care and to serve the needs of working professionals.

The CIoT market holds tremendous potential to grow in the coming period owing to an increased focus on affordability and integration of the latest tech innovations.

Top 10 CES 2023 Automotive Announcements

The annual Consumer Electronics Show (CES), held in Las Vegas from January 5 to 8 this year, focused primarily on the automotive, IoT, smart home, healthcare, metaverse and XR, AI and computing segments. Counterpoint’s automotive team analyzed over 150 automotive-related announcements during CES to identify key trends. The main focus of the automotive industry at this year’s CES was on electric vehicles (EV), followed by autonomous vehicles, infotainment, connectivity, components and maps. There was a lot of excitement surrounding autonomous vehicles at the event, but EVs accounted for the biggest share of news flow.

Here are the top 10 automotive announcements from this year’s CES, according to Counterpoint analysts:

1. Qualcomm unveils Snapdragon Ride Flex SoC to bring software-defined vehicles to reality

Qualcomm announced the Snapdragon Ride Flex SoC, a disruptive solution for expanding its low-power, advanced computing capabilities into the automotive space as part of its Snapdragon Digital Chassis initiative. This solution is built on a heterogenous compute architecture that addresses multiple workloads and is pre-integrated with the Snapdragon Ride Vision Stack. This gives automakers the flexibility to use the Ride Vision Stack across all vehicle tiers without sacrificing performance. In addition, its cloud-native architecture enables a smooth workflow for software development and deployment. The Snapdragon Ride Flex SoC is expected to go into production by 2024. Qualcomm is striving to maintain its leadership position in the software-defined vehicle era and make the transition easier for automakers and tier-1 suppliers.

For a more detailed report on CES 2023’s automotive announcements, click here:

2. Sony Honda Mobility introduces Afeela EV brand

Sony Honda Mobility finally announced its JV brand Afeela, which will bring its first EV model to North America in 2026 followed by Japan and Europe. Afeela’s first production model was teased at CES 2023. Sony and Honda announced their JV back in March 2022. Afeela will introduce a series of EV models that will carry Sony’s expertise in IVI systems, ADAS components and in-cabin electronics, while Honda will contribute to the brand’s performance with its e-powertrain system as well as battery sourcing and charging capabilities. According to the announcement, Afeela aims to offer better vehicles at a relatively lower cost. These EVs are expected to be positioned above Honda’s own EVs, but whether Afeela will share the same slot with Honda’s premium Acura brand is yet to be determined.

3. BMW previews next-gen color-changing concept with ‘digital emotional experience’

BWM previewed its next-gen 3 series concept model based on the Neue Klasse platform. The new i Vision Dee concept (Dee stands for ‘digital emotional experience’) showcased a monolithic exterior styling that can be divided into 240 different segments. The whole exterior can support different design styles like stripes, patterns and animation, and can curate up to 32 different colors. Though detailed specifications have not been shared, i Vision Dee features a new OS and a new fully controllable HUD with windscreen projection. Traditional infotainment has been removed. The dashboard conceals various touch sensors which can be used to display content on the HUD. The model will be powered by BMW’s sixth-generation EV powertrain and is expected to enter production in 2025 as a BMW i3 successor.

4. Volkswagen showcases new ID.7 wrapped in electroluminescent camouflage

Volkswagen showcased its sixth all-electric ID model, the VW ID.7, wrapped in special QR code-inspired camouflage to hide the final styling. The camouflage was inspired by electroluminescent technology which lights up 22 different sectors of the car. Volkswagen disclosed some technical details before the model’s final reveal during the second quarter of 2023. Initially, the ID.7 will have a 77kWh battery pack and a claimed 700-km range. The interior will feature a 15-inch touchscreen infotainment system, an AR-based HUD and a smart HVAC system that can automatically modify the cabin temperature when the key fob is close. Volkswagen expects its new model will compete with Hyundai’s Ioniq 6 and Tesla’s Model 3.

5. LG, Magna form second JV for ‘executable’ autonomous driving, infotainment solutions

Two of the biggest tech companies LG and Magna have again joined hands to develop solutions for automated driving by leveraging their areas of expertise. LG and Magna already have a JV that manufactures e-powertrain and other hardware like inverters, motors and onboard chargers for EVs. The new JV will explore the ADAS and AV market to develop “executable” automated driving and infotainment solutions to enhance customer experience by addressing the toughest challenges. LG’s vehicle component arm has been eyeing new openings in the automotive market and believes the increased connectivity of cars of the future presents new opportunities.

6. Harman aims to make driving assistance more intuitive, safer

Harman is all set to deliver enhanced in-cabin safety and awareness through its AR-based HUD hardware and AR-based software products. Harman has been a trusted name for vehicle audio for decades but now as the automotive industry makes a transition towards software-based experiences, the company has developed its own technology that enhances the drivers’ experience by bridging the gap between physical and digital worlds in a non-intrusive manner through its AR-based HUDs. Harman’s Ready Vision uses ML-based 3D object detection and computer vision to deliver collision warnings, lane departure, low-speed zone notification, blind spot warnings and lane change assist with high precision without breaking the driver’s concentration. Harman claims Ready Vision works with precision even in the most unfamiliar driving scenarios, making driving safer.

7. BlackBerry has a busy CES with launches, partnerships

BlackBerry’s IVY software platform, developed in collaboration with Amazon, won its first design contract with PATEO for the all-electric VOYAH H97 model’s digital cockpit. BlackBerry also launched QNX Accelerate, which supports the QNX RTOS and QNX OS for safety in the AWS marketplace. Leading tier-1 suppliers like Continental and Marelli are already testing it to create automotive metaverse environments for software-defined vehicles. BlackBerry is partnering with Elektrobit to develop automotive safety solutions using the Rust programming language. It has also formed partnerships with Texas Instruments for embedded software development and with Garmin for improving the in-car experience. These partnerships show that BlackBerry is attempting to regain market presence through its infotainment, security and OS products.

8. Innoviz launches new LiDAR, forms multiple partnerships

Innoviz, a leading player in solid-state LiDAR sensors and perception software, unveiled the Innoviz360, a cost-effective and high-performance LiDAR that will support a range of non-automotive applications such as smart cities, logistics, maritime, heavy machinery, and construction, in addition to Level 4-5 (L4 and L5) autonomy applications. Loxo, a zero-emission autonomous vehicle provider for last-mile delivery, has partnered with Innoviz to use the InnovisOne LiDAR. Deep-tech company EXways, which works in 3D LiDAR processing, has also partnered with Innoviz to leverage the technology for multiple applications.

Innoviz has previously formed partnerships with major automakers such as BMW and Volkswagen, as well as tier-1 supplier Magna. At CES, Innoviz also showcased the InnovizTwo LiDAR, which it claims offers a 30x performance improvement over the InnovizOne and a 70% cost reduction. With the growing adoption of autonomous vehicles, LiDAR technology is expected to be high in demand as major auto OEMs including Mercedes-Benz, Nissan, BMW, Stellantis, Volkswagen and Volvo plan to use it.

9. NVIDIA introduces in-car cloud gaming experience

NVIDIA is partnering with Hyundai Motor, BYD and Polestar to offer a cloud gaming experience through its NVIDIA GeForce NOW service for cars. GeForce users will be able to access over 1,000 paid and free games through this service. While video games are not new in cars, the addition of GeForce will provide a more PC-like gaming experience. This will also drive the trend of cellular connectivity in the passenger vehicle market, as cloud gaming will require embedded 4G or 5G connectivity.

10. Google launches HD maps, partners with Volvo, Polestar

Google announced that it would make HD maps available for Level 2+ autonomous vehicles. The Volvo EX90 and Polestar 3 will use Google’s HD maps service in addition to Google’s Android Auto solution. While Google is gaining some traction in the automotive sector through its Android Auto offerings, it will face strong competition from existing players like HERE and TomTom whose offerings in HD maps and other related services are helping them maintain leadership in the location platform market. To compete with these leading players and local players like Amap, Navinfo, Naver, MapmyIndia and Zenrin, Google is seeking to enhance the user experience in this segment.

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India’s Smart TV Shipments Up 38% YoY in Q3 2022; Indian Brands’ Share More Than Doubles

Global brands led India’s smart TV segment with a 40% share, followed by Chinese brands with a 38% share. Indian brands showed the fastest YoY growth to take a 22% share of the shipments.
Smart TVs are coming with better features, such as Dolby Audio, higher refresh rates and higher sound output, in the sub-INR 30,000 ($400) price range.
Smart TV contribution to overall TV shipments reached its highest ever share of 93% during the quarter.
Online channels contributed 35% of the overall shipments during the quarter.

New Delhi, Boston, Toronto, London, Hong Kong, Beijing, Taipei, Seoul – December 2, 2022

India’s smart TV shipments grew 38% YoY in Q3 2022, according to the latest research from Counterpoint’s IoT Service. The growth was primarily driven by festive season supplies for meeting the strong pent-up demand, multiple new launches, discount events, and promotions.

Source: India Smart TV Shipments Model Tracker, Q3 2022

The share of smaller size TV is increasing, with 32”-42” displays making up approximately half of the total shipments during the quarter. Although LED displays remain the preferred choice, advanced technology displays such as OLED and QLED are gaining ground. More models are being launched with QLED displays. Dolby Audio and better speakers are other features that are increasingly being provided by brands.

On the market trends, Research Analyst Akash Jatwala said, “Dolby Audio is becoming popular. Most of the new TV models have Dolby Audio support. 32” is still the most popular screen size, as it caters to a wide array of consumers and comes with an affordable price range, whereas 43” is gaining popularity in the mid-range. On the software side, newer models are increasingly coming with Google TV, mainly in the >INR 25,000 ($300) segment. The major benefit of Google TV is its user interface and content recommendations, as it can recommend content across various streaming apps, and YouTube, which is not available on Android TV.”

On the smart TV shipments by brand origin, Jatwala said, “Global brands lead the market with a 40% share, followed by Chinese brands with a 38% share. The share of Indian brands doubled in Q3 2022 to reach 22% of the overall shipments. Many new Indian brands are entering the highly competitive market.”

Looking at the brands’ growth, Senior Research Analyst Anshika Jain said, “OnePlus, Vu and TCL were the fastest growing brands in the smart TV segment in Q3 2022. Xiaomi led the overall smart TV market with an 11% share, followed by Samsung. LG once again secured the third spot due to the introduction of new models, especially in the INR 20,000-INR 30,000 ($250 – $400) price range. Other emerging brands in the top 10 included realme, Sony and Haier.”

Smart TV penetration of overall shipments reached its highest ever share of 93% during the quarter. The penetration is expected to go up further due to more launches in the sub-INR 20,000 ($250) price range. Online channels increased their contribution to the total shipments to 35% during the quarter. Major online platforms offered various promotions and discounts, along with exclusive launches, during the recent festive season sales.

Market summary

Xiaomi continued to lead the smart TV market in Q3 2022 with an 11% share. During the quarter, Xiaomi launched the Mi TV X series, which comes with a 4K display and has Dolby Audio and Vision. The models also have PatchWall, which has more than 300 live channels along with other features. Xiaomi’s Mi 4A Horizon Edition, 5A series and Redmi Smart TV series were its major volume drivers.
Samsung took the second spot in Q3 2022 with a 10% share of the smart TV market. During the quarter, Samsung launched new models in 32” and 43” screen sizes. The T4000 and T5000 series models were the volume drivers. Samsung offers a mode that turns the TV into a personal computer, offers a content recommendation guide, a web browser, and streams free TV channels with Samsung TV Plus.
LG had a 9% share of the smart TV market in Q3 2022. During the quarter, LG launched QNED TVs, while its OLED TVs were among the popular products in the premium segment. LG offers profile options, where viewers can create their profiles for personalized content, game optimizer, and cloud-based gaming in its lower-tier models.
OnePlus grew 89% YoY during the quarter and had an 8.5% share in smart TV shipments. The Y1, Y1S and Y1S Pro series served most of the volume during the quarter. OnePlus has some better features, such as Dolby Audio support, 4K displays and Oxygen Play, which has a recommendation system along with other features for a personalized viewing experience.
VU’s share more than doubled in Q3 2022. During the quarter, VU launched GloLED series, which comes with a 4K display, Google TV support and a built-in subwoofer with 104 W sound output. The series was among the brand’s best-selling.

Note: Xiaomi’s share includes Redmi’s share

Background

Analyst Contacts

Anshika Jain

Akash Jatwala

Counterpoint Research
press@counterpointresearch.com

Good Show in Vehicle Solution, B2B Segments Helps LG Fight Macro Headwinds

Q3 2022 revenue increased 8% YoY to reach ₩16.12 trillion helped by higher sales of vehicle solutions.
Vehicle solutions revenue jumped 46% YoY during the quarter, helped by the improved global semiconductor supply and increased auto production in China.
Operating profit increased 33% YoY to reach ₩0.79 trillion.

LG Electronics (LG) reported an 8% YoY growth in Q3 2022 revenue to reach ₩16.12 trillion despite considerable macro headwinds but helped by higher sales in its vehicle solutions and business-to-business segments. Quarterly gross profit rose 5% YoY to ₩5.05 trillion while operating profit grew sharply by 33% YoY to reach ₩0.79 trillion.

During the quarter, investor sentiment was weak due to a steep devaluation of the South Korean won against the US dollar, hurt by strong economic headwinds. The Korea Composite Stock Price Index (KOSPI) fell 6.5% in Q3 2022, which negatively affected LG’s performance.

Financial highlights:

Revenue from the consumer electronics segment fell 1% YoY to ₩11.19 trillion due to increased logistics costs and lower demand for premium products like TVs. This segment contributed to 69% of total revenue during the quarter.
Among all the segments, vehicle solutions was the best performer. The segment’s revenue jumped 46% YoY to ₩2.35 trillion during the quarter helped by the relative improvement in the global semiconductor supply chain. The segment accounted for 15% of the company’s total revenue. China faced a lot of factory shutdowns in the preceding quarter due to regulations related to the COVID-19 pandemic. As factories reopened in Q3, there was an increase in production which helped meet the heightened demand for electronics components in the automotive industry. This, combined with an improved cost structure, helped LG achieve strong growth figures for the period.
Revenue from other businesses grew 23% YoY reaching ₩2.60 trillion. Despite an increase in sales, the profitability of this segment decreased 63% due to lower demand for IT products and higher raw material costs.
LG’s gross profit increased 5% YoY to reach ₩5.04 While the company’s operating profit grew sharply, gross profit growth was relatively muted because of increased market competition, low consumer demand, increased raw material prices, increased marketing expenses and the energy crisis.

Market outlook:

The current global business environment is quite difficult, burdened by rising inflation, supply chain disruptions, geo-political tensions, increased logistic costs and the energy crisis, which have weighed negatively on consumer sentiment across industries. LG plans to prioritize on the development of new software platforms and adjust its channel inventory to overcome the ongoing crisis. LG will focus on its premium consumer electronics products and will likely maintain maximum margins to secure high profits. The company will also apply cost-saving initiatives to reduce raw material costs.

The vehicle solutions segment has the highest potential to expand as the global semiconductor shortage is easing out and OEMs like Honda, GM and Stellantis are working to jointly produce battery cells. Moreover, LG has secured an order worth ₩1 trillion from Tesla to supply automotive camera modules for the Tesla Model 3, Model Y and Cybertruck. These new deals will drive LG’s vehicle solutions segment to a great future.

LG is also strengthening its focus on new technologies like metaverse and robotics. It recently partnered with KT Corporation to expand its AI robot service business. LG will also establish an R&D centre and develop robots for logistics, education and healthcare services. LG’s strategic partnership with TmaxMetaverse will boost development across metaverse solutions and web-based metaverse services. The company will have the opportunity to capitalize on these technologies by the time they mature at the end of the decade, which will help it boost revenue.

In Automotive Connectivity, Rolling Wireless Tops Module Market, Qualcomm Dominates Chipset Market in H1 2022

Qualcomm dominates automotive connectivity chipset market with more than 80% share
Rolling Wireless leads the automotive connectivity module market, followed by LG and Quectel
One in two connected cars will have 5G connectivity by 2027

San Diego, Buenos Aires, London, New Delhi, Hong Kong, Beijing, Seoul – September 22, 2022

Global automotive connectivity module and chipset shipments grew by just 3% YoY in H1 2022, according to the latest research from Counterpoint’s Global Automotive NAD Module and Chipset Tracker.

China is the largest region as electric vehicle players, including new start-ups such as NIO, Xpeng Motor and Seres, are offering infotainment systems with large displays and smart cockpit solutions that have a wide array of features, and ADAS that requires embedded connectivity. But during H1 2022, automotive connectivity module shipments in China declined by almost 7% YoY due to slow car production caused by supply chain disruption and COVID-19 restrictions.

Automakers across Europe are trying to generate significant revenues from in-car software services via subscriptions. For this, they are now offering embedded connectivity, even in lower vehicle trims. The Ukraine crisis derailed the European automotive market’s post-COVID recovery. Automotive connectivity module shipments in Europe declined by more than 10% YoY as car production in Germany, France, UK, and other European nations suffered due to the lack of components caused by the Ukraine crisis.

While the two biggest markets could not avoid the effects of the geopolitical crisis and fresh COVID restrictions, North America remained more resilient with automotive connectivity module shipments increasing by 27% YoY during H1 2022.

Commenting on the market dynamics, Senior Research Analyst Soumen Mandal said, “With the increasing adoption of digital features and ADAS, the requirement for embedded connectivity in passenger vehicles will increase. The sales penetration of connected cars surpassed those of non-connected cars for the first time H1 2022. Previously, embedded connectivity was prevalent in luxury models, but now mainstream players like Volkswagen, Toyota and Stellantis are offering connectivity for their mass-market cars.

Qualcomm has a dominant position in the chipset market with more than 80% market share. The strong product portfolio and partnerships with major tier-1 suppliers and automakers are all helping Qualcomm. And now, Qualcomm is offering complete solutions for automotive digital transformation starting with hardware and extending to cloud services with the Snapdragon Digital Chassis. This one-stop solution is helping ecosystem players reduce time to market and be more competitive.

MediaTek and Samsung launched 5G solutions last year. As the automotive sector is gradually adopting 5G connectivity, we expect MediaTek and Samsung to increase their market share in 5G automotive connectivity. However, they will likely require a more concerted effort to substantially grow their share and benefit from greater economies of scale.”

Source: Counterpoint Global Automotive NAD Module and Chipset Tracker, Q2 2022

Automotive specialists lead, but IoT giants aiming for slice of module market

Commenting on the automotive connectivity module player dynamics, Research Vice President Neil Shah said, “Automotive connectivity modules must pass various quality and compliance tests and certifications, hence special expertise is an advantage. Consequently specialist automotive connectivity module players such as Rolling Wireless and LG are leading the market. Quectel, the largest IoT module player, has broken into the top three rankings due to strong performance in its domestic China market. We have seen Quectel gain certification for automotive-grade modules with North American and European telecom operators. This will give strong competition to traditional specialist players like Rolling Wireless, LG, Continental and Harman.

The entry barriers are relatively high for IoT module players but the revenue opportunity afforded by the automotive transformation is attractive. Nevertheless, geopolitical trade tensions and data security concerns will likely be a barrier to Chinese IoT module players penetrating international markets.

Automakers will aim to multisource modules to offset supply-chain risks while supporting the growing demand for connectivity. In addition, we expect some emerging countries like India, Indonesia, Thailand and Brazil will try to build their own manufacturing ecosystem to have better control over the supply chain.”

Source: Counterpoint Global Automotive NAD Module and Chipset Tracker, Q2 2022

Discussing the market outlook, Research Vice President Peter Richardson commented, “Automotive connectivity module shipments are expected to grow annually by around 11% on average to reach 97 million units by 2030. The demand for 5G modules is increasing and we expect around a half of connected cars sold in 2027 will have 5G connectivity. The evolution of centralised architecture with digital cockpit, autonomous capability (ADAS L3+) and electrification will drive growth for 5G technology.

In terms of revenue, the automotive connectivity module market is projected to reach $5 billion by 2030. The multi-billion segment opportunity will ensure the segment remains vibrant and highly competitive.”

For detailed research, refer to the following reports available for subscribing clients and individual subscription:

Counterpoint tracks and forecasts on a quarterly basis 25+ NAD module vendors’ shipments, revenues and ASP performance across 10+ chipset players, and major geographies.

Background

Analyst Contacts:

Soumen Mandal

Neil Shah

Peter Richardson

Counterpoint Research

press@counterpointresearch.com

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Market outlook

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Financial highlights

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Gaming monitors by Samsung and LG

World’s first dual UHD gaming monitor by Samsung

Other notable launches by Samsung

LG’s latest flagship gaming monitor 32GQ950

Lenovo tablet launch

Lenovo Tab Extreme

Interesting TV launches

World’s first smart TV metaverse experience

Samsung introduces new Neo QLED, Micro LED and OLED TVs

Skyworth showcases world’s first outdoor Google TV

LG releases world’s first wireless OLED TV

New smartwatches and TWS models from leading brands

Citizen releases Smart Sport and CZ Smart Casual

Fossil Gen 6 Hybrid Wellness Edition

Verizon’s Gizmo Watch 3 for kids

Motorola launches new ANC earbuds: Moto Buds 600

JBL announces JBL Tour Pro 2 wireless earbuds

boAt showcases advanced audio products

Smart security products by Amazon

Other notable smart device launches

Conclusion

For a more detailed report on CES 2023’s automotive announcements, click here:

2. Sony Honda Mobility introduces Afeela EV brand

3. BMW previews next-gen color-changing concept with ‘digital emotional experience’

4. Volkswagen showcases new ID.7 wrapped in electroluminescent camouflage

5. LG, Magna form second JV for ‘executable’ autonomous driving, infotainment solutions

6. Harman aims to make driving assistance more intuitive, safer

7. BlackBerry has a busy CES with launches, partnerships

8. Innoviz launches new LiDAR, forms multiple partnerships

9. NVIDIA introduces in-car cloud gaming experience

10. Google launches HD maps, partners with Volvo, Polestar

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Financial highlights:

Market outlook:

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Automotive specialists lead, but IoT giants aiming for slice of module market

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