After dominating the Indian smartphone market for over 3 years, Chinese manufacturers have shifted their focus on the Indian smart TV market. In Q1 2020, Xiaomi led the Smart TV market with a colossal 27% market share, while its nearest competitor was LG at 14%.
While Mi TV price can be considered a fundamental reason for this popularity, several others contribute towards it as well. Listed below are some of the reasons why Chinese television manufacturers lead the Indian TV market.
As a potential buyer, you can use these pointers to select the best tv that suits your needs.
Why Chinese TV manufacturers are popular in India
There are several reasons like affordableMi TV price, brand recognition, and value proposition that boosted the presence of Chinese manufacturers within the Indian subcontinent. Mentioned below are 4 reasons that set these brands apart from its competitors in the smart TV market.
- Leveraging brand recognition
Chinese manufacturers have dominated the Indian smartphone market since their launch. As of 2020, 4 Chinese brands (Xiaomi, Vivo, Realme, and Oppo) held 64% of the India Smartphone Shipments Market Share.
These brands have leveraged their already widespread brand recognition to capture the underdeveloped Indian smart TV market. Xiaomi’s new line of televisions is now available with exciting features, like UI enhancement, horizontal scrolling, clearer animation, etc.
For most buyers purchasing their first smart TV, a familiar brand like Xiaomi and Realme becomes an obvious choice.
- Technical expertise (rich features)
From their smartphone market experience, brands like Xiaomi, OnePlus, and Oppoalready possess the preliminary technical expertise and manufacturing facility required to produce Smart TVs.
With little focus on R&D, these companies can mass-produce smart televisions that come equipped with advanced features like high display resolution, higher refresh rates, multiple connectivity options, and advanced HW and SW decoders.
- Price to value proposition
Like the smartphone market, Chinese brands, such asXiaomi and Realme focus heavily on the affordable smart TV segment. One need only check the Mi TV price to notice that entry-level MI 4A Smart TV is priced under Rs.15000. Similarly, Realme is slated to launch a smart TV in the same price segment as well.
OnePlus is trying to set itself apart from the rest as the company focuses more on premium Smart TVs. While these devices carry a higher price tag, they are also loaded with features not found in the budget segment.
Haier, on the other hand, is also preparing to take a lead in the Indian market by incorporating exceptional features in its televisions at reasonable price tag. These include Volume Leveler, Full HD program, HDMI port and USB convenient connection.
- Strategizing based on consumer demand
Smart TV manufacturers in India are now focused on launching feature-rich appliances tailored to meet customer demands. As such, many features like 4K resolution, multiple port selection, wall mounts, and powerful stereo speakers capture the attention of potential buyers and contribute to the growing popularity of Chinese TV manufacturers. Also, incorporation of webOS, Android and SmartHub have improved consumers’ Smart TV experience and further added to their popularity in the market.
The Indian smart TV market is expected to grow even further with the increasing popularity of OTT platforms like Netflix, Amazon Prime, and Disney+Hotstar. Hence, expect even better features like 8K, 120Hz refresh rate, and a drop in Realme, OnePlus, and Mi TV price in the coming years.
Also, brands are now increasingly focussing on redefining TV panels and colours and incorporating class-leading picture engines to change one’s entertainment experience. Popular Chinese brands are gradually taking a clearly defined edge in the Indian market as they incorporate all 4 points discussed here in a uniform mix.
Nevertheless, Bajaj Finserv EMI Network Card users can easily afford premium smart TVs with their pre-sanctioned credit of up to Rs.4 lakh. This amount can be spent in over 1 lakh online and offline EMI Network outlets throughout the country. Enjoy a cash-free shopping experience on the EMI store of Bajaj Finserv.