In a surprising turn of events, Chinese tech giants OnePlus and Realme have reportedly decided to halt their television manufacturing and sales operations in India. This decision comes amidst a period of robust growth in the Indian television market.
The Unexpected Withdrawal from OnePlus and realme
Despite their initial push to establish a significant presence in the smart TV industry, OnePlus and Realme have chosen to discontinue the production and sale of televisions in India. This decision is particularly surprising given the current boom in the television market, driven by factors such as the ongoing cricket World Cup and festive sales.
OnPlus and Realme have decided to move out of the television category, even though they continue to operate in the smartphone business.the sources told TOI.
The Current Market Scenario
The Indian television market comprises long-standing brands like LG, Samsung, Sony, and Panasonic. New entrants like Xiaomi and TCL from China have also made their presence felt. Additionally, domestic brands like Vu and Thomson are gaining traction.
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. This marks an 8% year-over-year (YoY) increase. The report attributes this growth to frequent sales by e-tailers, multiple new launches by vendors, and clearance of old channel inventory before the festive season.
Despite these promising figures, OnePlus and Realme is said to have decided to exit the television category. However, they will continue their operations in the smartphone business.
Implications of the Withdrawal
The withdrawal of OnePlus and Realme from the television category raises several questions about the future of Chinese tech companies in India. It remains to be seen how this decision will impact the overall dynamics of the Indian television market.