The television industry in the country is seeing massive growth in the sales of 55-inches and above screen sizes, on the back of the higher aspirational level, increasing affordability, availability of high-quality content, cheap data, greater push from smaller towns, and a bouquet of offers from various national and international brands. Samsung states that Migration to larger screens is one of the biggest trends they are witnessing as consumers aspire to upsize their lifestyle. The 55-inch and above segment will be 20% of the overall TV market in 2019 as compared to 8% in 2017.
According to Chinese consumer electronics brand Xiaomi, consumers in India have seen an increase in their purchasing power and awareness about various technologies available in the Smart TV segment has gone up. In the last two years, a number of television brands have cropped up in the Indian market. Prices on average have already crashed by 40%. And since more manufacturers are likely to join the fray, price competition may get more intense.
Sony is looking to double the sales of the large screen size TV this year as compared to the last year. According to multiple industry watchers, 55-inch has become the new 32-inch in the television segment. To further increase the sales of the larger screen television, Xiaomi plans to add more content partners focusing primarily on regional partners and Live News partners.
