Is there anything that can be done to decrypt a firmware image?

[hogoj26214]

I thought I'd take a shot at reverse engineering some firmware. The only device I have with firmware is pretty much my TV, which is Samsung. I downloaded the firmware pretty excitedly and ran binwalk only to be completely lost and not know what to do. The firmware comes in a .msd file.

What would your next step be here?
https://kodi.software/
https://dltutuapp.com/tutuapp-download/
Thanks in advance.