With the rising competition in the TV manufacturing market, there's a new update and new model every other day. Know the reason behind the intense competition between TV brands.
TVs have been an integral part of every household since their increased availability in the 1950s. From the black and white days, to the thick boxes, to the steep LEDs, and now, the smart TVs; we have come a long way. Every other day there is a brand that one-ups the others, comes up with new prices and features, and becomes the new flavor-of-the-month in the market.
More brands entering the market
The number of brands that manufacture television sets has gone up in the last decade or so. In India alone, thanks to initiatives like ‘Make in India’, there are many television sets available that are made or assembled in India. Brands like Onida and Videocon provide high quality television sets, and manufacture their TVs in India completely. That said, the types of TVs in the market have also changed, from LCDs to LEDs, OLEDs and smart TVs. As more and more manufacturers enter the market, the competition is bound to get intense.Price war for bigger screens
The bigger the screen, the better for the consumer. A 43-inch TV can give a better, more immersive experience of a match than a front-row seat. The price of smaller TVs are significantly going down, while brands are now focusing on larger screen TVs. For example, the price of 32-inch TVs had to go down because customers started shifting to bigger TV screens.Dominant TV brands in the market like LG, Sony and Samsung constitute 70 percent of the Indian market share. These brands often reduce prices of older models with smaller screens because the demand for large screen TVs keeps increasing.
Features to choose from
Each category also has subcategories to choose from. If one brand comes out with a 43-inch full HD LED TV and another comes out with a 43-inch 4K UHD TV, customers that prefer better quality pictures are obviously going to be more inclined towards the 4K resolution. This forces the other brands to also come out with 4K UHD TVs to stay in the race.TV for every budget
Customers vary in their choices and budgets. No matter what your budget is, you will always find a smart TV in the market for you. Take for example the various Vu smart TV available in the market that caters to different consumer tastes and requirements. They are available in various sizes; from the smaller 32-inch HD LED TVs, to the 43-inch 4K UHD TV, to the impressive 50-inch 4K UHD LED TVs. Brands with a large spectrum of options are most likely to thrive in this market, and cater to customers with all types of budgets.Looking to buy a smart TV? The Bajaj Finserv EMI Network Card is here to make your purchases easy with affordable EMIs. It comes with a pre-approved limit of up to Rs. 4 lakh, and can be used to buy anything you wish — your favorite electronic gadgets, appliances, furniture, gym membership, clothes and much more.
