Tech world in shock: They are pulling out of the Smart TV market

In a surprising development, reports from Times of India have emerged suggesting that OnePlus and Realme, both owned by BBK, are considering pulling out from the television sector in India. It's noteworthy that these brands made their debut in the Indian television market in 2019 and 2020, respectively. With their competitive pricing strategy and inclusion of premium features, they managed to pose a challenge to prominent brands like LG, Samsung, and Sony, making this news all the more unexpected.

India's television market has been booming, driven by the advent of streaming services, economical internet rates, the ongoing World Cup, and festive season promotions. Both OnePlus and Realme have been producing their televisions locally in India. Furthermore, they have significantly invested in establishing sales channels and strengthening their brand presence in this category.

Tech world in shock: They are pulling out of the Smart TV market

Moreover, it's suggested that both OnePlus and Realme are planning to cease the production and sale of their television units in India. However, their dedication to the smartphone business remains unchanged. Official confirmation from both companies is still awaited on this matter. While the reported exit of OnePlus and Realme is drawing attention, Xiaomi continues to flourish in the Indian television market.

Recent data from IDC indicates a positive trajectory in India's television market. Approximately 4.5 million television units were shipped in the first half of 2023, marking an 8 percent annual growth. Xiaomi holds the top position, commanding a 14 percent market share, followed closely by Samsung and LG with 13 and 12 percent shares, respectively.

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