In a surprising turn of events, OnePlus Exits Indian TV Market, a prominent tech brand recognized for its smartphones and smart TVs, has reportedly decided to cease TV sales in India. While the reasons behind this move remain shrouded in mystery, industry insiders suggest that OnePlus Exits Indian TV Market, a Chinese company, has opted to bid adieu to the television market in India.Â
However, neither OnePlus nor Realme, another key player in the industry, have officially confirmed or denied these reports. This decision comes at a time when OnePlus Exits Indian TV Market is set to continue its smartphone production in the country.
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Industry Sources Point to OnePlus Withdrawal
Sources within the industry, as per a report by TOI, have revealed that OnePlus Exits Indian TV Market has chosen to withdraw from the television category while preserving its operations in the smartphone business. This move marks a shift in OnePlus Exits Indian TV Market‘s strategic focus, as they had previously invested significantly in building sales channels and establishing brand recognition in the television sector.
The Indian television market had been experiencing remarkable growth in recent years, driven by widespread internet accessibility and affordable data rates. The surge in popularity of streaming services like Netflix, Amazon Prime, and Disney Hotstar had further boosted the demand for smart TVs. Despite attempts to seek clarification from OnePlus Exits Indian TV Market regarding their decision, media teams representing the company have remained unresponsive.
OnePlus’s Exit Amid Robust TV Sales Growth
Interestingly, OnePlus Exits Indian TV Market’s exit from the television market occurs at a time when the industry is experiencing robust growth in TV sales. Several factors have contributed to this surge, including the ongoing cricket World Cup, where India stands as a favourite, and the festive season, which traditionally witnesses an upswing in electronics sales, particularly TVs.
According to data from the International Data Corporation (IDC) Quarterly Smart Home Devices Tracker, India saw the shipment of 4.5 million TVs in the first half of 2023, reflecting an 8% year-over-year increase. IDC attributes this growth in the first half of the year to frequent sales events hosted by e-tailers, numerous new product launches and portfolio refreshes by vendors, and the clearance of old channel inventory before the festive season commenced.
Notably, the online channel’s share in TV sales grew by 25% in H1 2023 compared to the previous year, reaching 39%. This growth was largely influenced by online sales festivals.
End Note
OnePlus Exits Indian TV Market raises questions about the future landscape of the industry, which is currently marked by surging TV sales. While the specific reasons behind this move remain undisclosed, it underscores OnePlus Exits Indian TV Market‘s commitment to enhancing its smartphone offerings.
As India’s TV market continues to evolve, the competition remains fierce, and the void left by OnePlus Exits Indian TV Market may create opportunities for other players to expand their presence in this dynamic industry.
