Handset makers Realme and OnePlus are mulling to exit the television market in India, says a report by Business Standard. Both the companies are owned by Chinese tech behemoth BBK Electronics Corporation which also owns Oppo, Vivo and Iqoo. OnePlus is a subsidiary of Oppo while Vivo's subsidiary is Iqoo. Both Realme and OnePlus are planning to discontinue selling their television panels in the Indian market, the BS report said, citing sources familiar with the matter.
The Indian television market was dominated by Xiaomi in 2022, with more than 10 per cent market share, followed by Samsung and LG, according to market intelligence firm Counterpoint Research. More than 99 per cent of the televisions are assembled locally in the country, with some high-end TVs being imported into India.
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It is pertinent to note that despite being one of the fast-growing TV OEMs in the country, OnePlus is mulling to take this decision. OnePlus, Vu and TCL were among the fastest-growing TV brands in the smart TV segment last year. BBK-owned OnePlus grabbed the second spot in the below Rs 30,000 segment last year. According to the BS report, which cited sources, the high cost of servicing TV panels in the country may have been the reason why the OEM is mulling to take the decision. The report also mentioned another source that indicated OnePlus is contemplating to stop selling TV sets in the country.
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Xiaomi led the overall smart TV market with an 11 per cent share. Smart TV shipments in the Rs 20,000-Rs 30,000 price band grew 40 per cent YoY to reach a 29 per cent share. The average selling price (ASP) declined 8 per cent YoY to around Rs 30,650, said Anshika Jain, Senior Research Analyst at Counterpoint Research.