The Indian TV market has seen significant growth in recent times, especially due to the budget friendly offerings from various brands. These include TVs from Xiaomi, TCL, Samsung, Vu and more. The market hit 15 million unit shipments in 2019, marking a year on year growth of 15 percent in 2018.
The Chinese tech giant, Xiaomi, led the smart TV market while Samsung took top spot in the overall TV segment. The former saw significant growth this year with a year on year rise of 40 percent. According to reports, the surge is accredited to budget smart TVs in the 32 inch category, that led the segment due to its 11,000 INR price segment (roughly 150 US Dollars).
A report under “TV Tracker Service” from Counterpoint, a renowned analytics firm, revealed the aforementioned figures. Furthermore, a Senior Analyst even mentioned that, “affordability and value for money are the key growth drivers. The new crop of brands such as Xiaomi, TCL and others are tapping their existing relationships with e-commerce channels such as Flipkart, Amazon, etc to successfully distribute the TVs affordably with a direct-to-consumer model.”
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In other words, the Indian TV market saw growth due to certain key factors like affordability and price to value offerings. Additionally, major e-retailers like Amazon and Flipkart supplemented this growth through easier accessibility. Samsung saw a growth of 6 percent in 2019 (YoY), with most of its growth coming from its smart TV offerings which included the N5000, N7000, R5000 and R7000 lineup.
The South Korean tech giant was also successful in the 50,000 INR price and higher price segments, with a reported market share of 40 percent. Although its non-smart TV portfolio saw an overall decline. The company is still the market leader in the Indian subcontinent but emerging players are making a sizeable impact as well. Best examples of this are Xiaomi and TCL. Both brands have 4K Smart TV offerings around the 50,000 INR mark, which is uncommon in most cases. Even OnePlus‘ smart TV is priced at 100,000 INR, although, it features a QLED 4K smart TV with a 50W Soundbar.
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(Via)
