Samsung eyes larger pie in TV market

South Korean electronics behemoth Samsung is targeting a sizeable 35% market share in the Indian TV industry by the end of this year, on the back of new product launches and value-added service initiatives. Currently, the company commands a market share of 31%.

Sharing the company’s vision with DH, Samsung Vice President (Consumer Electronics Business) Rajeev Bhutani said, “We are constantly investing in R&D to launch new products, but want to remain committed to all screen sizes and price-points. Throughout the industry, the consumer is moving towards larger TVs, and we want to provide offerings in line with consumer preferences.”

According to the EY-Ficci Study on Indian electronics and consumer durables, dated April 2015, the market for televisions in India was estimated to be valued at Rs 73,500 crore in 2016, growing at a CAGR of 17%.

Bhutani mentioned that the 32-inches and below TV segment has remained static in the country since the last couple of years, while the 40-inches and above category has emerged as the belly of the industry, holding a share of 45%, and growing at 40%. Samsung claims a market share of 35% in the latter segment.

“Meanwhile, the premium space — with its 55-inches and above offerings — is growing by a mammoth 60%. Here, our contribution is 15%, compared with the industry’s 10%. In the premium ultra high-definition (UHD) television space, we hold a market share of 48%, and we are targeting 60% share by the end of this year,” he said.

New TV viewing experienceAccordingly, Samsung has set out on a new product offensive, launching its innovative QLED TV in India — with sizes ranging from 55- to 75-inches, and priced in the range of Rs 3,14,900 to Rs 24,99,900.

“With the QLED TV, we have succeeded in addressing certain critical painpoints among customers. The TV range boasts of 100% colour volume, compared with OLED’s 68%. The HDR 2000 functionality brings out hidden details, an invisible connection keeps the living room clutter-free, and a single remote control adds convenience,” Bhutani said, adding that the said TV offering would propel the company to achieve its targeted market share.

In the second half of this year, Samsung will be launching The Frame, an ‘arty’ TV concept. “We’ve made significant investments in building logistics, distribution and a robust retail line. As a specific focus on speedy customer service, we have deployed 535 service vans across 6,000 taluks in the country,” he concluded.