LG Electronics India on Monday launched a new range of smart TVs featuring artificial intelligence ThinQ including Super UHD and OLED TV, as it aims to strengthen its presence in this segment. The company said that with AI functionality, consumers can directly speak into the remote to control TV functions to seamlessly discover and play content.
Rishi Tandon, Business Head-FPD, LG Electronics India, said: “Last year, we considerably improved our market share in the smart TV segment, as we grew at a faster pace than the market. This year, we aim to grow our market share in the smart TV segment to 30 per cent from the current 25 per cent to become the leading player. This new range with AI functionalities will be one of the key drivers for us.”
The company said that the AI functionality is incorporated in its television range to offer convenience and a more intuitive experience. The LG AI TV range consists of 25 models which include OLED, Super HD and Smart TV segments and the price range starts from ₹32,500 to about ₹29.5 lakh.
The growth is also expected to be driven by factors such as reduction in the price gap between smart TVs and non-smart TVs and the Indian consumers increasingly opting for bigger display sizes.
The smart TV segment currently contributes 45 per cent to the overall TV market in terms of value.
“We believe by December end, the smart TV segment will contribute 60 per cent in terms of value to the overall TV market,” he added.