As have been the speculations since the last few months, smartphone majors OnePlus and Realme have reportedly decided to discontinue the production and sale of televisions in India. Sources told Times of India that the two companies will exit the smart TV market in India. “OnPlus and Realme have decided to move out of the television category, even though they continue to operate in the smartphone business,” the sources told TOI. It is not clear why the companies decided to exit the market. As both OnePlus and Realme had invested in building sales channels and branding in this category. OnePlus also did reasonably well in the affordable smart TV segment. OnePlus launched its first TV in the year 2020. The company entered premium TVs fray in February this year. Realme entered the TV segment in 2021. The company has been largely a player in the affordable segment. Consumers are said to be increasingly warming up to the competitive pricing and offerings in the TV category from these two companies.
Also, Realme and OnePlus’ home country rival Xiaomi continues to flourish in the smart television category in India. Reception for smart TVs has gained traction in India in recent years owing to offerings like Netflix, Amazon Prime, Disney Hotstar, among others.
The two companies are, however, no way exiting the India market and will continue their business in the smartphone segment in the country with the same vigour.
Smart TV market in India
According to a recent report from research company International Data Corp (IDC), 4.5 million televisions were shipped to India in the first half of the year 2023. This is an increase of 8% year-over-year (YoY). The frequent sales by e-tailers, multiple new launches/refresh model portfolio by vendors and clearing of old channel inventory, before the festive season starts, fueled the growth in the first half of the year. S
The popular screen sizes of 32-inch and 43-inch remain mainstream with 71% collective share, the larger screens are gaining popularity. Share of the 55-inch went up to 12% from 9% a year ago in the first half of 2023, resulting in 35% YoY growth in the $400+ price segment.
“Due to decreasing prices, consumers are opting to buy an affordable smart TV instead of retrofitting non-smart TV with a streaming stick, which is losing popularity, its shipments declining by 85% in 1H23,” says Upasana Joshi, Research Manager, Client Devices, IDC India.
The average selling price (ASP) of smart TVs stood at $380 in 1H23, a 3% YoY decline. Brands are focusing on low priced models in the budget segment with regular price drops, resulting in share increase of sub-$200 from 26% to 39% in 1H23.
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