In major news, OnePlus and Realme, the two BBK-owned brands are reportedly exiting the television market in India as per Times of India citing an anonymous source. Those two companies forayed into the country’s TV segment back in 2019 and 2020 respectively. Both OnePlus and Realme enjoyed success and growth due to competitive pricing and premium features that helped them challenge established brands like LG, Samsung, Sony, etc. Hence their exit (although unofficial) comes as a sudden surprise.
OnePlus, Realme calls it quits in India’s smart TV segment
The TV market in India is witnessing strong growth due to the rise in streaming services, affordable internet, the ongoing World Cup, and the festive season sales. Both OnePlus and Realme manufacture televisions in India locally. They had also invested in building sales channels and branding in the category.
TOI also reports that OnePlus and Realme will halt the production and sale of televisions in the country. However, they will continue with their smartphone business. Both companies are yet to share an official statement on the matter. While OnePlus and Realme’s reported exit is surprising, Xiaomi continues to thrive in the television segment in India.
Data from IDC revealed that 4.5 million televisions were shipped in India in the first half of 2023 which is an 8 percent increase YoY basis. Xiaomi led the TV market in the country with a 14 percent share with Samsung and LG in second and third place with 13 and 12 percent share respectively.
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