OnePlus and Realme planning TV market exit in India
OnePlus and Realme are reportedly planning to exit the television market in India, as per an anonymous source cited by Times of India.
In a significant development, OnePlus and Realme, both brands owned by BBK Electronics, are reportedly withdrawing from the television market in India. This information comes from an anonymous source cited by Times of India. OnePlus and Realme entered the Indian television segment in 2019 and 2020, respectively, and their success and growth in this market were driven by competitive pricing and premium features, which allowed them to compete with well-established brands like LG, Samsung, and Sony. This potential exit, though unofficial, comes as an unexpected move.
OnePlus and Realme planning TV market exit in India
The television market in India is experiencing robust growth due to the increasing popularity of streaming services, affordable internet access, ongoing events like the World Cup, and festive season sales. Both OnePlus and Realme have been manufacturing televisions locally in India and have invested in building sales channels and branding in this category.
Times of India also reports that both OnePlus and Realme will cease production and sales of televisions in the country, but they will continue their smartphone businesses. As of now, neither company has provided an official statement on the matter. While the reported exit of OnePlus and Realme is surprising, Xiaomi continues to thrive in the Indian television segment.
According to data from IDC, in the first half of 2023, 4.5 million televisions were shipped in India, marking an 8 percent increase on a year-on-year basis. Xiaomi leads the Indian TV market with a 14 percent share, followed by Samsung and LG with 13 and 12 percent shares, respectively.
