OnePlus and Realme, part of the BBK Group, are reportedly discontinuing their presence in India’s TV market. This move is unexpected as both brands had gained momentum in India’s growing smart TV market with OnePlus finding a place among the top five TV brands in the country.
OnePlus and Realme are reportedly exiting India’s TV market (Image Credits: OnePlus)
OnePlus and Realme are reportedly pulling out of India’s TV market. The two BBK-owned companies are known for their smartphones, but they also make smart TVs powered by Google TV alongside other electronic offerings, such as audio products, tablets, smartwatches, and more. According to a TOI report citing industry sources, both OnePlus and Realme have decided to move out of the television category while continuing to operate in the smartphone business.
OnePlus and Realme pull out of India’s growing TV market
The report claiming OnePlus and Realme exiting the market comes as a surprise because both companies have been seeing a steady rise in India’s smart TV market. Additionally, the market itself has been witnessing growth for the past few years led by the internet boom and the popularity of streaming services, such as Netflix, Amazon Prime, and more. The report of their withdrawal from the TV market comes at a time when TV sales are also on the upswing due to the festive season.
According to IDC (International Data Corporation), 4.5 million TVs were shipped to India in the first half of 2023, registering a year-over-year (YoY) increase of 8 per cent. Meanwhile, the share of the online channel grew by 25 per cent in the same period, reaching 39 per cent of total TV sales. According to the report, the smart TV market in India is dominated by Xiaomi, with Samsung, LG, TCL, and OnePlus taking up the subsequent spots.
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OnePlus and Realme had invested in building sales channels and branding in TVs, earning them a notable presence in the market. OnePlus also finds its way into the country’s top 5 smart TV companies in IDC’s ranking with a market share of 7 per cent, fueled by its budget series Y1 and Y1s through the quarters.
The figures don’t explain why it would decide to exit the market. OnePlus and Realme have not yet commented on the report. We will update this story when either of them makes a statement, either confirming or refuting the news.
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