China's Xiaomi to bring smart TVs in India under Redmi brand
Chinese tech major Xiaomi will soon
introduce smart TVs under the 'Redmi' brand in India as it looks to further
expand its position in the burgeoning smart TV segment in the country.
Speaking to PTI, Xiaomi India Category
Lead (Smart TV) Eshwar Nilakantan said when the company had introduced its
smart TVs in 2018, its aim was to increase the smart TV penetration in the
country and "democratise" the segment.
"In 2018, the penetration was 18 per cent, less than
one-fifth of the TVs sold were smart and we wanted to democratise the segment
like we had done for smartphones. Since then, the 18 per cent has grown to a little
over 55 per cent. We have grown with the market and sold over 5 million smart
TVs," he said.
Nilakantan explained that India has over 200 million households,
of which 170 million have a TV - 100 million of those are CRT TV and 70 million
have a flat monitor.
"Smart TV penetration is only 20 million. So if you look at
this overall market, there are 50 million people who would be coming and buying
a smart TV, and even the 100 million households who have a CRT will be
upgrading directly to a smart TV, that is a massive opportunity," he
added.
A number of smartphone players such as Samsung, LG, Micromax,
OnePlus, Infinix and Motorola have smart TVs in their product portfolio in
India.
According to Counterpoint Research, shipments of TVs in India grew
15 per cent annually to reach the highest-ever 15 million units in 2019, and
the growth was mainly driven by budget smart TVs, with 32-inch TVs the leading
segment.
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