Emerging Brands See Further Growth in India’s Smart TV Market, Marketing & Advertising News, AND BrandEquity
As holiday shopping is breaking all records in India, not only established players but new and emerging brands in the Smart TV category have seen impressive growth in the country, with some of them registering even a 60% growth in their income.
The smart TV market in India saw an extraordinary growth of 65% (year-on-year) in the second quarter of this year. According to Counterpoint Research, the smart TV market continued to capture non-smart TV market share, accounting for 80% of the overall TV market in the quarter.
Due to the growing demand for smart TVs, original equipment manufacturers (OEMs) are rapidly increasing the number of smart TVs in their portfolios.
According to Avneet Singh Marwah, CEO of SPPL, an exclusive brand licensee of Blaupunkt TV and Westinghouse TV in India, they have got off to a good start this holiday season.
“Overall, we have seen sales growth of 60%. After the second wave, many consumers decided to save their disposable income for fear of hitting the third wave, which resulted in a significant drop in sales. But the scenario has changed with festive sales and we have seen a huge spike in recent sales held by Flipkart, ”Marwah told IANS.
Anand Dubey, Founder and CEO of Indkal Technologies, said the response has been wonderful over the holiday season and Acer has become one of the most trusted brands in India and around the world.
The Acer brand was licensed to Bengaluru-based Indkal Technologies of Acer Incorporated, which debuted in the smart TV segment in September.
“We have seen the same sentiment from customers for smart TVs. Of course this is just the start and we are working to build that trust by providing excellent customer service with top notch products,” Dubey said. at IANS.
“In the future, we will be looking to introduce products with newer technologies such as Dolby Atmos and Dolby Vision running on Android 11 right out of the box. We are also developing more products with a dedicated sound bar which has been a great success in the 43- inch UHD segment that we introduced in October, ”he explained.
In the third quarter (Q3), the Smart TV segment grew 58% (year-on-year) in the country and new brands are growing faster than the market growth rate, according to Counterpoint Research Director Tarun Pathak .
“Some of our models, like the 32-inch Smart TV and the 43-inch 4K, sold out within hours for Blaupunkt. In metropolitan cities, we saw 120% growth in both 65-inch and 55-inch 4K models. Westinghouse as a brand, although launching this holiday season, has seen pretty decent traction on Amazon, ”Marwah said.
Blaupunkt plans to launch gaming TVs with better refresh rates next year.
“Next year is very exciting as we will be launching 18 new TVs from all brands,” said Marwah.
Dubey said that with the Acer brand, “we aim to ensure that each television customer segment has an option in our range that is close to their individual needs.”
The Acer branded line-up comes in eight different sizes and three resolutions in three series (P, XL and Boundless) of products.
“The Frameless models in sizes 43, 50, 55 inches were launched as a flagship line, called the Boundless series, which come in 4K Ultra High Definition resolutions with an almost edge-to-edge display and a range of 1.07. billion colors with WCG + Technology, ”Dubey explained.
All Acer TVs currently run on Android 9, but “we plan to update the software directly to Android 11 very soon via OTA (over the air),” he said.