Samsung eyes ₹10,000-cr turnover in India through its television business

Samsung is targeting a ₹10,000-crore turnover for its television business in India on the back of mid to premium segment models, said Mohandeep Singh, Senior Vice-President, Visual Display Business, Samsung India.

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Currently, Samsung locally produces 90 per cent of televisions it sells in India. The company aims to focus on growing its value market share, which will help it grow by double digits, in the country, Singh told businessline.

The consumer electronics major is anticipating a shift towards growth in volume within the market. This growth is projected to stem from the mid-range and premium price segments.

“Consumers are buying into entertainment solutions and not just a television set. And hence the premium and super premium are growing very fast, large screens are growing very fast,” said Singh. “The trend of home improvement is fairly well entrenched and growing. We expect that the premium will continue to do very well,” he added.

For the last five years, the South Korean giant has been leading the television market vertical in India. As per 2023 Omdia data, Samsung closed the year with 30.1 per cent share of the global TV market.

Higher localisation

The South Korean company is also looking into higher localisation of their manufacturing process. However, certain components like the open cells are imported which are used in the new glare-free OLED TVs.

“Components are imported and that’s the status. As and when the component ecosystem improves, it could be localized. But wherever there is an opportunity to add value within the country, we do that,” explained Singh.

Smart TV launched

On Wednesday, Samsung unveiled its premium AI television lineup in Bengaluru including Neo QLED 8K, Neo QLED 4K, and OLED TVs. Samsung has also launched glare-free OLED TVs, stating them as the world’s first.

The Neo QLED 8K and Neo QLED 4K range starts from ₹3,19,990 and ₹1,39,990 respectively while the OLED range begins from ₹1,64,990.

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Further, Samsung introduced a Music Frame along with a number of Smart Experiences for Indian consumers such as Cloud Gaming Service, Samsung Education Hub, Samsung TV Plus, Smart Yoga, and TV Key Cloud service.

(Reported by BL intern Vidushi Natiyal)