New Delhi, Leading consumer electronics maker Samsung is targeting to cross Rs 10,000 crore sales mark from its TV business in the Indian market in 2024 on the back of increasing demand and premiumization in the segment, a company official said on Wednesday. .
Samson India Senior Vice President said the company, which has introduced a new line-up of Artificial Intelligence (AI enabled TV sets), controls about 21 per cent of the volume of the fast-growing Indian TV market and will grow even more in 2024. Hopes to become stronger. , Visual Display Business Mohandeep Singh.
He said Samsung is driving "volume growth" in the mid- and premium TV segments and expects this trend to continue this year as the Indian TV industry faces a market decline in 2023. As part of the strategy, Samsung is "very focused" on sales of premium TV sets, which currently contribute 40 per cent of its TV sales here, and expects the growing demand for TV sets 55 inches and above to help. Will get it.(Ultra-High-Definition) set.
“We are targeting an unprecedented turnover of Rs 10,000 crore (from tea sales) this year 2024 and further strengthening our leadership,” Singh said.
Crossing the Rs 10,000 crore TV sales mark "will be a 2024 success story for Samsung because "we have never done this before, nor has any other brand in t. Samsung India's total revenue in FY23 stood at Rs 98,924.4 crore, of which about 70 per cent contribution was from its mobile phone business and the rest from other businesses including appliances and T business.
Talking about the domestic TV market, Singh said that after growing in terms of screen size, price and volume for two consecutive years – in 2021 and 2022, it remained sluggish in 2023 as the entry-level segment, with 32-inch screen size included.The set did not increase.
"But now the contribution from mid and premium TV sets is becoming higher and we expect this volume growth trend to continue. I think this will also drive volume growth as we move into 2024," Singh said. Will not increase." “We believe that in 2024 we will also see volume growth, although it will be single digit growth.” He said that this time the volume growth will not be due to HD, FHD, 32-inch, but UHD and other premium. Technologies and larger screen size.
“So, I think there is a huge opportunity for the industry to grow, and we want to move the industry forward to further strengthen our position,” he said.,
Singh said extreme premiumization is "unique and exciting" and this trend is visible not only in metro markets but also in smaller cities, even towns in rural India. Samsung on Wednesday announced Rs 1.39 lakh in its 2024 lineup Launched a range of AI-powered televisions starting with ultra-premium Neo QLED and OLED, which according to the company will enhance the viewing experience with machine-learning capabilities.
"It features an AI picture technology that brings out details in the picture, ensuring clarity, naturalness and the ability to see the nuances of facial expressions in every scene the viewer watches," Singh said.
Additionally, it has an 'AI Upscaling Pro' to transform content to closely match an 8K display, vastly improving the viewing experience compared to any traditional 4K television. That said, it also has 'AI Motion There's also 'Enhancer Pro' which makes sharpening easier and clearer.Additionally, it has features like AI Sound Technology, which delivers precise audio, which detects background noise and automatically adjusts the volume and an Energy Mode, which saves power without compromising on picture quality. .
“Samsung is bringing the transformative power of Artificial Intelligence (AI) across product categories to improve consumers' lifestyles,” said JB Park, President and CEO of Samsung Southwest Asia. Samsung India, part of South Korean chaebol Samsung Electronics Co., currently manufactures about 90 percent of its TVs in India through its factories or original equipment manufacturers.
He said, “I think over time, this trend will get better as our volumes on the premium side increase.,
Earlier this month, Samsung had said that AI-powered and internet-connected smart devices would contribute 70 per cent to India's sales. The Indian TV market is estimated to be around 12 million units, which includes Samsung's LG, Panasonic, Sony, Competition includes Xiaomi, TCL and OnePlus.
The price of AI-powered ultra-premium Neo QLED starts at Rs 1.39 lakh and the price of OLED starts at Rs 1.64 lakh.
Samson India Senior Vice President said the company, which has introduced a new line-up of Artificial Intelligence (AI enabled TV sets), controls about 21 per cent of the volume of the fast-growing Indian TV market and will grow even more in 2024. Hopes to become stronger. , Visual Display Business Mohandeep Singh.
He said Samsung is driving "volume growth" in the mid- and premium TV segments and expects this trend to continue this year as the Indian TV industry faces a market decline in 2023. As part of the strategy, Samsung is "very focused" on sales of premium TV sets, which currently contribute 40 per cent of its TV sales here, and expects the growing demand for TV sets 55 inches and above to help. Will get it.(Ultra-High-Definition) set.
“We are targeting an unprecedented turnover of Rs 10,000 crore (from tea sales) this year 2024 and further strengthening our leadership,” Singh said.
Crossing the Rs 10,000 crore TV sales mark "will be a 2024 success story for Samsung because "we have never done this before, nor has any other brand in t. Samsung India's total revenue in FY23 stood at Rs 98,924.4 crore, of which about 70 per cent contribution was from its mobile phone business and the rest from other businesses including appliances and T business.
Talking about the domestic TV market, Singh said that after growing in terms of screen size, price and volume for two consecutive years – in 2021 and 2022, it remained sluggish in 2023 as the entry-level segment, with 32-inch screen size included.The set did not increase.
"But now the contribution from mid and premium TV sets is becoming higher and we expect this volume growth trend to continue. I think this will also drive volume growth as we move into 2024," Singh said. Will not increase." “We believe that in 2024 we will also see volume growth, although it will be single digit growth.” He said that this time the volume growth will not be due to HD, FHD, 32-inch, but UHD and other premium. Technologies and larger screen size.
“So, I think there is a huge opportunity for the industry to grow, and we want to move the industry forward to further strengthen our position,” he said.,
Singh said extreme premiumization is "unique and exciting" and this trend is visible not only in metro markets but also in smaller cities, even towns in rural India. Samsung on Wednesday announced Rs 1.39 lakh in its 2024 lineup Launched a range of AI-powered televisions starting with ultra-premium Neo QLED and OLED, which according to the company will enhance the viewing experience with machine-learning capabilities.
"It features an AI picture technology that brings out details in the picture, ensuring clarity, naturalness and the ability to see the nuances of facial expressions in every scene the viewer watches," Singh said.
Additionally, it has an 'AI Upscaling Pro' to transform content to closely match an 8K display, vastly improving the viewing experience compared to any traditional 4K television. That said, it also has 'AI Motion There's also 'Enhancer Pro' which makes sharpening easier and clearer.Additionally, it has features like AI Sound Technology, which delivers precise audio, which detects background noise and automatically adjusts the volume and an Energy Mode, which saves power without compromising on picture quality. .
“Samsung is bringing the transformative power of Artificial Intelligence (AI) across product categories to improve consumers' lifestyles,” said JB Park, President and CEO of Samsung Southwest Asia. Samsung India, part of South Korean chaebol Samsung Electronics Co., currently manufactures about 90 percent of its TVs in India through its factories or original equipment manufacturers.
He said, “I think over time, this trend will get better as our volumes on the premium side increase.,
Earlier this month, Samsung had said that AI-powered and internet-connected smart devices would contribute 70 per cent to India's sales. The Indian TV market is estimated to be around 12 million units, which includes Samsung's LG, Panasonic, Sony, Competition includes Xiaomi, TCL and OnePlus.
The price of AI-powered ultra-premium Neo QLED starts at Rs 1.39 lakh and the price of OLED starts at Rs 1.64 lakh.
