OnePlus and realme, two prominent electronics manufacturers from China, have decided to halt the production and sale of televisions in India, as per The Economic Times report.
These companies had been working on establishing themselves in the smart TV market in India, but they have abruptly discontinued their efforts in this category. It’s worth noting that Xiaomi, another Chinese brand, continues to dominate the smart TV market.
Competition in the TV Market
The television market in India features established players like LG, Samsung, Sony, and Panasonic, alongside newer entrants from China such as Xiaomi and TCL. Homegrown brands like Vu and Thomson, operating under brand licensing, have also made their presence known in the market.
Timing of the Withdrawal
Interestingly, OnePlus and realme have withdrawn from the TV market at a time when TV sales are thriving. The ongoing cricket World Cup, with India as the favorites, and the current festive season have contributed to increased sales of electronics, including TVs.
Growth in TV Shipments
According to the International Data Corporation (IDC) Quarterly Smart Home Devices Tracker, 4.5 million TVs were shipped to India in the first half of 2023, marking an 8% year-over-year increase. The share of online sales grew by 25% in H1 2023 compared to the previous year, accounting for 39% of total sales.
Xiaomi continues to lead the TV market with a 14% share in the first half of 2023, while OnePlus secured the fifth position with a 7% share, reporting significant shipments of the brand’s budget series Y1 and Y1S in recent quarters.
As stated by sources in the report:
OnePlus and realme have chosen to exit the television category while maintaining their presence in the smartphone business.