Samsung TV sales cross ₹10,000 cr in 2024, aims double-digit growth led by premium segment, ET Retail

Time of India

08-05-2025

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Consumer Electronics major Samsung , whose TV sales crossed the Rs 10,000-crore mark in 2024, is looking for a double-digit growth this year driven by premiumisation with increase in the number of large screen size sets and by democratising new age features as AI technology, a company official said. The company now aspires to corner around one-third of the Indian TV market , where the growth is led by the premium segment, which is 55 inches and above screen size, said its Senior Director and Head of VD Business, Viplesh Dang.Though 2024 was not a good year for the TV industry, which witnessed a decline in sales, Samsung, a market leader in the segment, is observing "some green shoots" and expects the overall industry to grow with a low single digit."We expect the industry to grow in the low digits, but we will outpace the market growth where we are aspiring for a double-digit growth," Dang told PTI.Samsung, which launched a range of ultra-premium series on Wednesday for 2025, is introducing its Vision AI technology to Indian consumers. It is betting on the fast-growing premium segment, with an expectation of a new level of growth. Samsung Vision AI makes screens smarter, more intuitive and deeply personal."So we are democratising the AI, which will expand to our lineup and give us more sales to grow," he said, adding that with this range, Samsung will meet the aspirations of consumers, who are not only looking for an upgrade in screen sizes but in terms of technology and features also.According to Dang, now an "absolute growth" is coming from a value and volume perspective in the 55-inch and above screen size. Demand for such a large screen premium segment is even growing from smaller tier-II & III cities.There is still a section that continues to opt for a mass market and lower-sized screens such as 32 inches, and Samsung is also catering to them."Now, 55 inches has also become a mass segment. Now, the new segment which is arriving is 75 inches and above. And there, when we are bringing 100 inches and 115 inches, we see that the market will upsize itself and create for us the value growth," he said.On being asked about the TV industry in 2024, Dang said last year the market was at 11 million-plus units, volume-wise. "2024 has been a landmark year for Samsung. In value terms, we achieved Rs 10,000 crore as the turnover, becoming the only brand to achieve it, and we now aspire to grow double-digit this year," he added.Samsung's 2025 lineup of Neo QLED 8K, Neo QLED 4K, OLED, and The Frame TVs starts at Rs 49,490 and goes up to Rs 11 lakh.Its AI mode optimises picture quality and sound in real time by using advanced deep-learning algorithms that adapt to both content and ambient surroundings. Besides, AI experience personalises content discovery and settings by learning user preferences.Samsung, Vision AI transforms televisions into adaptive hubs, responsive to their environment and user behaviours.Its Universal Gesture Control allows users to navigate their Samsung Smart AI TV using simple hand movements, eliminating the need for a remote. This feature utilises AI technology, and a connected Galaxy Watch to recognise gestures, allowing for intuitive control over various TV functions.According to Counterpoint Research, in 2024, the Indian TV market experienced over 10 per cent decline in terms of shipments. This was largely due to weak consumer sentiments, a slowdown in the replacement cycle, and macroeconomic challenges, which also affected sales revenue.However, it also added that consumers increasingly favoured larger screens for a more immersive entertainment experience."Consequently, 55 inches and above TV shipments have grown approximately 12 per cent YoY in 2024. Samsung emerged as the market leader, with 9 per cent YoY shipment growth, driven by increased premium offerings and offline growth. In 2024, a major decline in shipments was observed among Chinese and mid-tier brands," said Counterpoint Research Senior Analyst Anshika Jain.For 2025, it expects overall shipments to remain stable, with modest single-digit growth, as the market struggles with a slow start to the year."However, the second half is likely to see a rebound, fuelled by festive demand and increasing consumer upgrades to premium devices. The trend toward premiumisation is expected to continue, with the Rs 40,0000-70,000 price range becoming the key segment for most brands," Jain said.Samsung competes in the Indian TV market with players, including Sony, LG Electronics, TCL Panasonic , Haier, etc.