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NEW DELHI — Samsung on Wednesday said that it is targeting INR 10,000 crore revenue from its Artificial Intelligence (AI)-powered Neo QLED, OLED TV business in India.
Samsung ended 2023 with a 21 per cent volume market share and this year it is looking to further consolidate its leadership with the launch of AI TVs, the company said
"For the first time, we have a very clear twin strategy on premium, the highest or the largest range as far as the consumer is concerned and with that, we are also looking at targeting unprecedented INR 10,000 crore revenue in 2024," said Mohandeep Singh, Senior VP, Visual Display Business, Samsung India.
The television market in India has been slow, with Counterpoint Research reporting a 16 per cent drop in shipments last year.
However, Samsung is optimistic about the TV business in 2024, citing increased demand for premium TVs from MZ consumers.
As per analysts, no TV brand in the country has achieved the INR 10,000 crore revenue milestone before.
Samsung has launched its ultra-premium Neo QLED 8K, Neo QLED 4K and OLED TVs in the country to consolidate its leadership in the TV business.
According to the company, its new range of premium TVs is designed to boost consumers' home entertainment experience with powerful, AI-driven solutions.