Business
OnePlus, Realme pull plug on TV manufacturing and sales in India – Times of India
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NEW DELHI: Amid intense pressure on Chinese companies, OnePlus and Realme – two top electronics makers from the neighbouring country – have discontinued production and sale of televisions in India.
Both the companies had appeared to be moving towards building a sizeable business in smart TVs but have suddenly called it quits in the category even when compatriot Xiaomi continues to stay strong and lead the category, industry sources said.
“OnPlus and Realme have decided to move out of the television category, even though they continue to operate in the smartphone business,” the sources told TOI.
The companies had invested in building sales channel and branding in TVs, a category which has gained over the past few years due to the internet boom and highly-affordable data rates. Also, the growth of streaming services such as Netflix, Amazon Prime, and Disney Hotstar has fuelled the demand for smart TVs.
When contacted, media teams for OnePlus and Realme did not respond to a questionnaire on the matter.
The market for TVs comprises old timers LG, Samsung, Sony and Panasonic, with new entrants such as Xiaomi and TCL from China, apart from homegrown Vu, Thomson (under brand licensing) also making their presence felt.
Interestingly, the withdrawal of OnePlus and Realme comes at a time when TV sales are witnessing robust growth, fuelled by the ongoing cricket World Cup where India are the favourites. Also, the festive season is currently on, and sales of electronics such as TVs are on an upswing.
According to International Data Corporation (IDC) Quarterly Smart Home Devices Tracker, 4.5 million TVs were shipped to India in the first half of 2023, an increase of 8% year-over-year (YoY). “The frequent sales by e-tailers, multiple new launches/refresh model portfolio by vendors and clearing of old channel inventory, before the festive season starts, fuelled the growth in the first half of the year. Share of the online channel grew by 25% in H1 2023 YoY, reaching 39% driven by online sales festivals,” IDC said.
Both the companies had appeared to be moving towards building a sizeable business in smart TVs but have suddenly called it quits in the category even when compatriot Xiaomi continues to stay strong and lead the category, industry sources said.
“OnPlus and Realme have decided to move out of the television category, even though they continue to operate in the smartphone business,” the sources told TOI.
The companies had invested in building sales channel and branding in TVs, a category which has gained over the past few years due to the internet boom and highly-affordable data rates. Also, the growth of streaming services such as Netflix, Amazon Prime, and Disney Hotstar has fuelled the demand for smart TVs.
When contacted, media teams for OnePlus and Realme did not respond to a questionnaire on the matter.
The market for TVs comprises old timers LG, Samsung, Sony and Panasonic, with new entrants such as Xiaomi and TCL from China, apart from homegrown Vu, Thomson (under brand licensing) also making their presence felt.
Interestingly, the withdrawal of OnePlus and Realme comes at a time when TV sales are witnessing robust growth, fuelled by the ongoing cricket World Cup where India are the favourites. Also, the festive season is currently on, and sales of electronics such as TVs are on an upswing.
According to International Data Corporation (IDC) Quarterly Smart Home Devices Tracker, 4.5 million TVs were shipped to India in the first half of 2023, an increase of 8% year-over-year (YoY). “The frequent sales by e-tailers, multiple new launches/refresh model portfolio by vendors and clearing of old channel inventory, before the festive season starts, fuelled the growth in the first half of the year. Share of the online channel grew by 25% in H1 2023 YoY, reaching 39% driven by online sales festivals,” IDC said.
