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India's smart TV shipments are expected to decline 7 per cent in 2023 on account of factors such as inflation and other macroeconomic headwinds in the country, said a Counterpoint Research report on Tuesday. In the first half of 2023, the India Smart TV Shipments have already declined 5 per cent, the report said. However, the report also added that TV manufacturing is increasing in India with new investments by OEMs in creating manufacturing capacity. Newer OEMs are also entering the market and partnering with leading brands to make their TVs, it said. "We estimate that India's smart TV market will see a decline of 7 per cent 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," said the latest report from Counterpoint's IoT Service. The report also added despite a slowdown, the TV market continued to witness premiumisation as demand for bigger screen size smart TVs, which are 55 inches and above,