Samsung Electronics has launched 44 new models of smart TVs in India priced up to Rs 24 lakh, in one of its single largest launches as it looks to consolidate market share in the category.
According to a PTI report: Samsung, the TV market leader with a 31 per cent share of the pie at around 48.2 million units in 2015, is eyeing 35 per cent market share this year.
“We are targeting absolute dominant leadership position in the premium TV segment. We are targeting to outgrow the market and are looking at 35 per cent market share in the overall TV segment by the end of this calender year,” Vice President, Consumer Electronics, Samsung India, Rajeev Bhutani was quoted by PTI as saying.
In the premium category, the company has 46 per cent market share and with new launches, it is looking to take it up to 60 per cent.
The company has launched nine products under SUHD range with screen sizes ranging from 49 to 88 inches and priced between Rs 1.79 lakh and Rs 23.99 lakh.
Seven TVs were launched in Joy beat range with screen sizes ranging from 32 to 49 inches and priced between Rs 27,500 and Rs 69,500.
Rest of the products were added in the Smart TVs range with screen sizes ranging from 32 to 88 inches and priced between Rs 34,500 and Rs 7.04 lakh.
“Samsung aims to revolutionize the concept of home entertainment with beautifully designed TVs to meet the changing needs of our consumers, depending on their budget and lifestyle. With these offerings, we aim to further consolidate our position as the market leader across segments,” Bhutani was quoted by PTI as saying.
The company is looking at selling one million Smart TVs, which includes its premium range SUHD TVs, Smart TVs in the mid segment and Joy Beat range in the affordable segment, in the current calender year.
Price of 44 products launched today ranges from Rs 28,000 to Rs 24 lakh.
Commenting on the growth in TV industry, Bhutani said it has grown in the range of 12-15 per cent in the first half of 2016.
“As far as we are concerned, we are looking to grow more than the industry on the back of these new launches,” Bhutani was quoted by PTI as saying.
At present, the urban market accounts for 60-65 per cent of the total sales with the rest coming from the rural areas, he was further quoted by PTI as saying, “however, the rate of growth is much faster in the rural market and the company is trying to tap the potential by coming up with innovative marketing schemes and network expansion”.