South Korean consumer electronics major Samsung is aiming to corner around 60 per cent market share in the premium TV segment by the end of this year also relying on decent sales of Smart QLED TV launched here today.
The launch of Smart QLED TV is part of the company's strategy to strengthen its position in the premium segment and it is expecting that TV panels of 40 inches and above would drive majority of the sales.
"We are aiming to take our share in the premium panel market to 60 per cent by the end of this year from the present 48 per cent. This would be helped by our new TV range as QLED series," said Samsung India VP, CE, Rajeev Bhutani.
He further added: "The company would also increase its share in the overall panel market to 35 per cent, from 31 per cent."
Presently, in value terms, the overall size of the Indian TV market is around USD 2.4 billion (Rs 15,430 crore). The market is an intensely competitive one as new entrants have come into the low cost segments as well as in the premium 40
inch plus segment. According to Bhutani, in panels of 32 inches and below, the industry has stagnated in the past two years.
"As far as Samsung is concerned, we would continue to operate in all screen sizes across all points. However, our endeavour would be to drive and showcase the consumer the latest innovative products, which in turn, is creating and driving the market in the 40 inch and above segment," he added.
Samsung, whose products are available at around 29,000 counters pan India, would continue to expand its reach both in rural and metro markets.
"We would keep adding as we are investing in creating logistics infrastructure and retail infrastructure," he said.
As part of its strategy, Samsung India is focusing on the customers who are replacing their CRT TVs in the rural areas, while in urban areas, it is targeting the customers who are upgrading their LCD/LED panels into smart TVs. Presently, urban India is contributing 65 to 70 per cent of the market, he added.
"This 65 to 70 per cent market is driving the growth in 40 inches and above," Bhutani said.
Samsung, a leader in the panel segment, is now facing stiff competition from some domestic makers and Chinese players, who have gained market share in the entry level segment in non-metro regions.
"We are not competing in price point but we would compete on value additions and continue to focus on that," said Bhutani.
The company has priced the QLED series between Rs 3.14 lakh and Rs 24.99 lakh for screen sizes of 55 inch to 88 inch. Samsung has also come up with a pre-book offer for its QLED TV under which it is offering Samsung Galaxy S8 (Gold) free to customers who book up to May 21.
