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OnePlus and Realme to stop TV production and sales in India
OnePlus and Realme announced the discontinuation of TV production and sales in India despite the industry boom, while other brands like Xiaomi, TCL and domestic offerings are thriving.
Chinese tech giants OnePlus and Realme have announced their exit from the Indian TV market, meaning the popular companies will no longer sell or produce TVs. The two companies, known for their electronic products, have chosen to discontinue the production and sale of televisions in India, citing intense pressure on Chinese companies. This decision comes despite its initial push to establish a significant presence in the smart TV industry. Notably, its compatriot Xiaomi continues to thrive and dominate this segment.
According to the TOI report, industry sources revealed that OnePlus and Realme have opted to withdraw from the television category while maintaining their smartphone business operations. Previously, both companies had made significant investments in creating sales channels and brand recognition in the television sector. This category has seen substantial growth in recent years, driven by the proliferation of the Internet and affordable data rates. The growing popularity of streaming services like Netflix, Amazon Prime and Disney Hotstar has further boosted the demand for smart TVs.
Despite attempts to reach out to the media teams representing OnePlus and Realme for further clarification on their decision, they did not respond to queries. In the Indian TV market, well-established brands like LG, Samsung, Sony and Panasonic coexist with new entrants like Xiaomi and China's TCL. In addition, national brands such as Vu and Thomson (under brand license) have made notable progress in the market.
According to data from the International Data Corporation (IDC) Quarterly Smart Home Devices Tracker, India witnessed the shipment of 4.5 million TVs in the first half of 2023, an 8% year-on-year increase. The share of the online channel in TV sales increased by 25% in H1 2023 YoY, reaching 39%, primarily influenced by online sales festivals.
