In a bid to check Chinese technology firm Xiaomi's expansion in India's television market, South Korean giant Samsung, which so far has been leader in the country's TV segment, has decided to cut prices by up to 20 per cent with maximum reduction in the entry-level models. Increasing competition from Xiaomi, Vu and TCL could be the reason behind the decision, said an Economic Times report.
According to the report, 65-inch Samsung TV which used to cost Rs 2.05 lakh earlier will now be available at Rs 1.95 lakh, while a 55-inch TV has come down from Rs 1 lakh to Rs 75,000. The prices of a 43-inch and 32-inch TV have also dropped to Rs 33,500 and Rs 19,400 respectively from Rs 39,900 and Rs 22,900 respectively.
Samsung has reportedly nearly 30 per cent share in India's TV segment followed by LG and Sony.
Chinese brands are trying to take a bigger pie of the Rs 22,000 crore television market in India, after grabbing more than half of the total smartphone sales. “While companies routinely drop prices by about 5% for old models when new models come up, but Samsung has dropped prices by 10-20%, which reflects a complete change in their pricing strategy,” the ET report quoted director of a leading durable retail chain as saying.
With its India launch in February, Xiaomi has redefined television pricing, and the Chinese company is selling 43-inch screen TV at Rs 22,999 and 55-inch at Rs 44,999. Xiaomi's three Mi TV models being sold in India include Mi LED TV 4 (Rs 44,999), Mi TV 4A 43-inch (Rs 22,999) and Mi TV 4A 32-inch model (Rs 13,999).
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For its Mi LED TV users, Xiaomi has come out with a new offer. The Mi TV users will get a free broadband service from ACT Fibernet for three months and the offer will reportedly be valid till August 31, 2018.
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