OnePlus and Realme, two prominent smartphone manufacturers, are reportedly discontinuing their production and sales of televisions in the Indian market. According to sources cited by the Times of India, both companies have decided to exit the smart TV sector in India, while they will continue their operations in the smartphone business. The exact reasons behind this exit from the TV market are not yet clear. Despite having invested in sales channels and branding efforts in the television category, both OnePlus and Realme have made this decision. OnePlus had made a reasonably successful entry into the affordable smart TV segment after launching its first TV in 2020, and they ventured into premium TVs in February of the current year. Realme, on the other hand, entered the TV segment in 2021, primarily focusing on the affordable segment. In contrast, their home country competitor, Xiaomi, continues to thrive in the Indian smart television market. The Indian market has witnessed growing interest in smart TVs in recent years, driven by factors like content streaming services such as Netflix, Amazon Prime, and Disney Hotstar.
Despite their exit from the television market, OnePlus and Realme have no intention of leaving the Indian market altogether. Both companies will continue their operations in the smartphone segment with the same level of commitment. In the first half of 2023, India saw 4.5 million television shipments, marking an 8% YoY increase, as per a report from the International Data Corp (IDC). E-tailer sales, multiple new product launches, and clearing of old channel inventory in preparation for the festive season contributed to this growth. Although 32-inch and 43-inch screen sizes remained mainstream, larger screens, particularly 55-inch TVs, saw increased popularity, resulting in a 35% YoY growth in the $400+ price segment. Consumers are increasingly opting for affordable smart TVs rather than retrofitting non-smart TVs with streaming devices, which have seen an 85% decline in shipments in the first half of 2023. The average selling price of smart TVs in 1H23 was $380, reflecting a 3% YoY decline. Brands have been focusing on low-priced models in the budget segment, leading to an increase in sub-$200 TV market share from 26% to 39% in 1H23.
