Consumer electronic company Samsung Electronics said, the company expects a double-digit growth from its panel and Smart TV business in the country. Presently, the company enjoys around 30 per cent of the market in the panel TV segment. The company also said it will launch its first Ultra High Definition TV (UHD TV), the 85S9, with an 85-inch display screen in India in June this year. However, the company said, it has not fixed the price for the model.
"We are witnessing a good growth in the panel TV business in the country. With the latest launch of Smart TV, we expect to double the business. The Smart TV adoption in the country is growing and as a leading player in the panel TV business in the country we believe that we can capitalise on the growing trend in the country," said Atul Jain, Senior Vice-President, Consumer Electronics, Samsung India.
The company also unveiled about 20 new television models across its flagship Smart TV and LED TV series. Samsung also said, LED TVs will drive the company's panel TV growth and expects Smart TV to contribute 20 per cent of its panel TV growth. With the new launch the company is targeting the growing consumers who are shifting from normal TVs to LED.
According to a report from market intelligence firm 6Wresearch, Indian smart TV market is expected to reach Rs 54,000 crore ($10.41 billion) by 2017, growing at a CAGR of 87 per cent during 2012-2017. It also said that India's smart TV market is expected to ship 9.86 million units of smart TVs in 2017, at a CAGR of over 109 per cent from 2012-2017. In 2011, smart TVs accounted for less than 5 per cent of the total flat TVs unit shipments and are expected to cross 50 per cent mark in 2017.
Samsung's Flat Panel TV products has 43 models across LED, LCD and plasma Technologies with screen sizes ranging from 22 inches to 75 inches priced between Rs 14,500 to Rs 750,000.
"With the launch of our 2013 Smart TV range, we are looking to consolidate our leadership in the panel TV market in India. We expect LED TVs to drive our Panel TV growth, with Smart TVs contributing at least 20 per cent of our Panel TV volumes this year," Samsung India Senior Vice-President (Consumer Electronics) S K Kim said.
The company has also announced the launch of Evolution Kit. The kit available on select 2012 Series 7, 8 and 9 Smart TVs, it provides both software and hardware updates that include access to the 2013 Smart Hub and other Smart features, and transforms the setÃ¢Â€Â™s dual-core CPU to quad-core, resulting in faster internal processing speeds, the company said. The company also said the new Smart TV comes with around 750 global and Indian application. It also launched five new Plasma televisions across 43 inches, 51inches and 64 inches screen sizes were introduced in Series 8 priced between Rs 35,500 to Rs 209,900.