MUMBAI: South Korean electronics giant Samsung expects sales of premium televisions in India to increase by 10-15%, driven in big part by the excitement around FIFA World Cup 2018.
“With the FIFA World Cup coming into play, the market should see 10-15% growth in premium TV sales. We will be hopefully see more than that,” Piyush Kunnapallil, general manager – Consumer Electronic Business, Samsung India, told Businessline.
Kunnapallil was optimistic of sustaining Samsung’s success as a market leader in India due to the demand of Ultra HD (UHD) TVs increasing in the market, growing at 75%. His comments come in the backdrop of the South Korean tech giant unveiling new models in its flagship QLED TV series, the mid-range UHD and Make for India “Concert” TV series here.
“We are currently dominating the QLED TV segment in the country with 47 per cent share. We are looking to increase our share in this segment to 55% by the end of September-October,” Kunnapallil told IANS on the sidelines of the launch.
With the Indian TV market growing at 7-8% and having an estimated worth of Rs 500 billion, Samsung’s market share is expected to rise to 33% from the existing 30% by October, with the FIFA World Cup playing a role in it, he told the business daily.
“There is a clear move happening in the 40 inch and above and ultra high definition (UHD) TVs,” he noted.
The 40 inch and above segment accounts for 45-50% of the total TV market and is growing at 26%. However, keeping in mind their position in the market and football’s marquee event, Samsung doesn’t feel the time is right to be focused on pricing.
“If we as market leaders change price, it might affect consumer sentiment, especially when FIFA is coming. Thus, we have decided not to hike prices,” Kunnapallil said.
