Samsung Electronics would further consolidate its lead in the LED TV segment, helped by India-specific innovations and by providing affordable finance solutions to its consumers, said a company official.
Samsung is witnessing “strong momentum” in sales of smart TVs in metros, tier II, III and IV cities helped by factors such as low priced data, good internet speed and low priced OTT (over the top) content.
The company would continue to invest to add advanced features as IoT (internet of things) and AI (Artificial Intelligence) in the segment.
“Overall, we continue to be the largest brand with share of 30 per cent in the TV segment. Our intent it to consolidate our overall market leadership,” Samsung India Consumer Electronics Senior Vice President Raju Pullan told PTI
Samsung is growing over 60 per cent in the 32-inch screen size LED TV segment, which is considered to be mainstay of the industry.
“The TV industry is growing only 22 per cent in 32-inch category,” he said adding that in the UHD segment, the company’s market share is 35 per cent and in QLED 63 per cent.
According to him, now the consumers are upgrading their existing TVs to smart TVs. In metros and tier II markets, people are going for a higher screen size.
While in tier III and IV markets, the growth rate of smart TV segment is higher because of low penetration of smart TVs compared with the developed metro markets.
“We are seeing a strong momentum because of two strategies — to give the right consumer benefits and affordability with the help of financial institutions,” he added.
When asked about the competition with other companies which are offering competitive prices at the entry level segment, Pullan said Samsung would compete with its full range.
“We would be price warrior and size warrior… We have seen many brands around us in last couple of years but holistically we are a brand which would be across price points,” he said.
According to him, the penetration of TV in the Indian household is 60 per cent and most of them are not smart TVs.
The company Monday introduced its latest range of smart TVs which can be used as personal computer, music system and home cloud.
Samsung range of new smart TVs starts from Rs 24,900 for 32-inch and is available across screen sizes up to 82-inch.