Indians tune into large-screen TVs

NEW DELHI: When it comes to televisions, it is the big screen that Indians are going for. Increased content consumption on platforms such as Netflix, Amazon, YouTube and Hotstar — buoyed by a crash in data prices — has fuelled the demand for 55-inch and larger category of ‘smart’ internet TVs, outpacing the growth witnessed by smaller screens.

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The trend has gathered pace over the past two years or so, prompting companies to launch more and more TVs with larger screens compared to the massive focus they earlier had on screens such as 24- and 32-inch. These include Ultra HD (high-definition) TVs, OLEDs and new-age 4K screens.

Top officials from companies such as Sony, LG, Panasonic and even homegrown Vu TV say the trend is only going to get stronger as prices of panels come down and popularity of larger screens picks pace.

“People are upgrading TV screen sizes in India, and 55-inch is proving to be the sweet spot when it comes to buyers,” says Manish Sharma, president & CEO of Panasonic’s India business. Apart from the large library of content that is available online, affordability has been a major factor behind pushing the trend. “Just three years back, a good 55-inch smart TV used to cost upwards of Rs 2 lakh. The same now costs around Rs 80,000.”

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Sony, one of the key players in the segment, is banking on the trend as it brings many of the company’s premium products in this category. “While the total market for TVs is growing around 10%, demand for larger categories such as 55-inch and above is growing by over 50%,” Sachin Rai, head of Sony India’s TV range, said.

Demand for screens such as 24-, 32- and 42-inch is expected to grow at 12-13%. Though in terms of absolute volumes, these screens command a much larger share. “While last year, around 2 lakh units were sold in the large-screen size, we expect this number to be higher by as much as 50% this year,” Rai said. This number, however, is still small when compared to the total number of TVs that will be sold in the country this year — forecasts peg the cumulative volume at 120 lakh units.

Rahul Tayal, director (strategic business and marketing) at LG India, said ‘smart’ devices account for 40% of the company’s TV sales. “People want connectivity and are increasingly opting for internet TVs.