Samsung is launching products targeting the millennial consumers to widen its market share lead this year.
ET Bureau | Updated: Apr 09, 2019, 06.57 AM IST
KOLKATA: Samsung, which is feeling the pressure in television from the Chinese brands, expect to widen its market share lead this year in the Indian market by launching products targeting the millennial consumers.
The company’s senior vice president (consumer electronics) Raju Pullan said the company is revamping its portfolio in India this year and has just launched a new series for the brick-and-mortar stores offering newer features and benefits like personal computer, music, cloud, live cast and two way sharing with the smartphone. He said Samsung has been the leader in the Indian flat panel television business for last 13 years.
“We are available across all price points unlike several competitors. We will continue to invest in consumer centric benefits and hopes all these efforts along with a revamped product portfolio will help us to increase our lead,” said Pullan. He said these new features has been developed in India and has potential to be exported to other parts of the globe.
Samsung has recently launched a new television series specifically for online where it has reduced the price gap with online focussed brands like Xiaomi, TCL, Thomson and Vu who have started eating into the share of the top three brands – Samsung, LG and Sony.
Samsung claimed, quoting GfK figures, that it has 30% value share of the Indian TV market as of February and 35% value share in the ultraHD smart TV segment and is the leader in both the segments.
Earlier this month, Xiaomi India MD Manu Jain tweeted that Xiaomi is the number one brand in smart televisions in India in the October-December 2018 quarter quoting tracker IDC numbers. According to the tweet, Xiaomi had 33.5% share in Indian smart TV market, LG 16.7%, Sony 14.8% and Samsung at fourth position with 13.3%.
While Pullan refused to comment on IDC numbers, he said Samsung being the market leader wants to drive the premiumisation trend in the Indian television space to become a stronger and dominant brand. He said the company will accelerate launch of the latest “made for India” features across its entire portfolio in the country, even faster than a year.
“We expect substantial growth in revenue from the television business. And with 5G coming in, we expect faster adoption across price points of internet enabled products,” he said.
Samsung will also continue with its non-smart TV portfolio in India. Pullan said a larger part of the television penetration in India is driven by the old CRT television sets and there is no clear indication whether such consumers will move directly to smart or non-smart television models. “Hence, we want to be available across all price points and categories,” he said.
Pullan also refused to comment whether Samsung has any plans to restart television manufacturing in India. Incidentally, the company last year shut down the television plant in Chennai to import them from Vietnam due to tax benefits.
However, ET had last month reported that Samsung has initiated talks with some of the leading contract manufacturers to start production of some TV models in the country.