In India, the TV market was previously dominated by electronics giants like Samsung, LG, and Sony who occupied most of the market share then. But things have changed drastically in the last couple of years. With the internet and IoT at our fingertips, every device has become smarter and so Smart TV.
Smart TVs were a myth a few years back and now India loves them more than ever. Obviously, there are few key players in that segment, and the Chinese smartphone giant Xiaomi holding the lead since 2018. The Smart TV market has risen steadily and as Manu Kumar Jain, MD of Xiaomi India rightfully pointed out. The market in 2018 was only 15% for Smart TVs and has jumped to 50% in 2020, but Xiaomi continues to lead in terms of market share.
As Economic Times points out in their article Smart TVs are dominating the market simply because of the convenience that they offer. You can use them using your internet. Or just plug in a set-top box to watch your traditional cable TV channels. Smart TV nowadays opens a plethora of content that was unimaginable a few years ago. This is because of the advent of a wide range of OTT platforms in India.
Well, at first Smart TVs weren’t cheap. Major players like LG, Samsung, Sony, and others predominantly brought those into the market with their own UI. Android TVs were out of reach for its astronomically high prices. Things changed as major smartphone manufacturers stepped into the TV segment and Xiaomi. Xiaomi still continues to be the best-selling smartphone brand started making Smart TVs at low cost.
This was followed by a number of brands like Kodak, Vu, Onida, Blaupunkt, and the list just continues. Now apart from the traditional TV makers, almost all smartphone company has its own Smart TV lineup. It easier for a smartphone company to penetrate the market. Because via a Smart TV one can make an ecosystem of its own AIoT products. And Xiaomi is blatantly following this strategy.
Xiaomi’s low-cost Android Smart TVs to high-end 4K ones, has got to offer something for every budget which is the key success of the company who has excelled both in online and offline presence recently. This market is ever-growing and Xiaomi continues to be the pioneer of it, and in the upcoming sales in Diwali, Xiaomi could pounce on the opportunity as almost 90% of TVs could be Smart TVs.
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