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Samsung is targeting a market share of 34 per cent in the overall TV market in India by October-November this year, the Diwali festival period, with a strong focus on the premium TV segment. It currently has a 30 per cent market share.
The company on Tuesday launched its range of 8K QLED TVs in India, which, it claimed, is the world’s first such product.
Across the QLED and the QLED 8K range, Samsung introduced a total of 16 models, some of which will be available in stores immediately, while the others will be launched through this month. With the launch of this new line-up, Samsung is looking at achieving 55 per cent market share in the 55-inch and above QLED TV category by the Diwali festival period.
“Our current market share in the premium segment (55-inch QLED and upwards) is about 47 per cent (March 2019),” Raju Pullan, Senior Vice-President, Consumer Electronics Business, Samsung India, told BusinessLine .
Area of focus
Premium TVs will be a major area of focus for Samsung as the company believes that customers upgrading to bigger TVs to improve their viewing experiences will drive growth.
“The penetration of TVs in India is about 66 per cent and consumers are looking at options to upgrade. We see consumers upsizing,” Pullan said, adding that the adoption has already happened and buyers want value.
In Q1 2019, the overall growth in the 55-inch and above TV category was 55 per cent. “In January-February 2019, we have grown by 70 per cent compared to last year (in units),” said Pullan. As consumers preference for larger TVs is increasing, Samsung is also targeting 70 per cent market share in TVs that are sized 75 inches and above. It currently claims to have 53 per cent of this market.
“We will grow the QLED segment by 3x over last year,” Pullan said, as the company hopes for the newly launched line-up to boost sales.
‘8K AI upscaling’
The QLED 8K TVs launched on Tuesday come with what Samsung calls “8K AI upscaling”, which can transform any input content into 8K. India still does not have enough 4K or 8K content right from the production level.
The screen sizes for the new 8K line-up range between 65 inches and 98 inches, whereas the QLED line-up ranges from 43 inches to 75 inches with 12 new models.
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