Redmi smart TVs in India: A new price-wise may break out in India’s smart TV market. This is because Chinese company Xiaomi is now going to bring smart TV in India under its Redmi brand. Xiaomi is putting full emphasis on the possibilities of expanding in this fast-growing segment. The company has not disclosed the prices of the smart TV to be launched under the Redmi brand. However, Xiaomi has confirmed that the Redmi Smart TV will be made by domestic manufacturer Dixon.
In the Indian market, smartphone companies like Samsung, LG, Micromax, Oneplus, infinix and Motorola have a product portfolio of Smart TVs. Industry experts say that Smart TV sales saw strong growth amid the COVID epidemic. The reason for this is that people were spending more time indoors, as well as the consumption of content on the OTT platform also increased.
Ishwar Neelkanthan, Head (Smart TV), Xiaomi India, told PTI that Xiaomi has recently tied up with Radiant to increase the production capacity of smart TVs in India. The Xiaomi company is also working with Dixon for domestic manufacturing. Neelkanthan, however, has not commented on the prices of smart TVs to be launched under the Redmi brand. He said that the ‘Made in India’ device will soon come on the market.
Xiaomi sold 50 million smart TVs
Neelkanthan told that Xiaomi has sold 50 lakh TVs, out of which 30 lakh are made in India. Redmi will make the brand’s TV Dixon. Smart TV’s target audience will be ‘more young’ than Xiaomi’s current product. The objective of this brand is to reach more consumers with smart TV.
Xiaomi has already said that the Redmi franchise is for the mass market, while the Mi will remain in the premium segment. There are about 9 models of TV in Xiaomi’s Indian market. In 32-inch to 65-inch screens, their prices range from Rs 14,499 to Rs 54,999.
According to Counterpoint Research, TV sales in India rose 15 per cent to a record level of 15 million annually in 2019. Budget sales were boosted by Smart TV, which has the highest sales of 32-inch TVs.
Fast growing Smart TVs market
Neelkanthan told that when we introduced Smart TV in 2018, then our aim was to make Smart TV reach every category in the country. At that time, sales of smart TVs were about a fifth of the sales of TV, that is, about 18 per cent. The way we transported the smartphone to every section, similarly we wanted to extend the Smart TV to every category. Today, the market of smart TV has been more than 55 percent.
According to Nilkanthan, there are more than 200 million families in India. Out of this 17 crore families have TV. 10 crore families have CRT TV and 7 crore have flat monitor television. Smart TV has reached only 2 crore families. In this way, when we look at the entire market, there are more than 50 million people who will buy smart TVs. Also, the 10 crore people who have CRT will directly upgrade to smart TV. In such a situation, there is a huge potential in this segment.