Realme And OnePlus To Exit Indian TV Market: Report

OnePlus, Vu and TCL were among the fastest-growing TV brands in the smart TV segment last year.

Both Realme and OnePlus assemble smart TVs locally within the country.

Source : Getty

After weeks of speculations and rumours, handset makers Realme and OnePlus are finally exiting the television market in India. Both the firms are owned by Chinese tech behemoth BBK Electronics Corporation which also owns Oppo, Vivo and its subsidiary Iqoo. According to a report by Times of India (TOI), which cited sources, both the companies will exit the smart TV market in the country.

Both the companies assemble smart TVs locally within the country and have invested in creating sales channels and branding. It is pertinent to note that despite being one of the fast-growing TV OEMs in the country, OnePlus is taking 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. 

"OnePlus and Realme have decided to move out of the television category, even though they continue to operate in the smartphone business," TOI report noted.

This comes at a time when the Indian TV market is witnessing robust growth on the back of thriving streaming and OTT content services and cheap Internet. 

The Indian TV market was dominated by Xiaomi last year, 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.

Research firm IDC said that 4.5 million TVs were shipped in India in the first half of 2023 which is an 8 per cent increase YoY basis. The segment was dominated by Xiaomi with a 14 percent share with Samsung and LG in second and third place with 13 and 12 per cent share, respectively. 

According to a previous Business Standard 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.