Television is, and will remain, the most important medium for the predictable future in India. The TV market operates on a cycle that makes a relentless push-pull between the latest technology and sensible price. In terms of the LED TV market in India, the market has very recently adopted global trends from several front-running nations in this industry. The old glass display monitors are replaced by updated display version that is flat panel display which delivers better picture quality. The flat panel displays are lighter, thinner and portable.
But before we dig in for a deeper understanding of the flat-panel TVs, let us acknowledge the overall market scenario; in the present day, ever increasing technological advancements like IPTV, DTH, and digitalization have led to substantial growth in the TV industry across India. Every international TV brand in India has been consistent on setting up a firm foothold in the Indian market and they have realized that the factors to gain a firm foothold in the Indian market, goes beyond just cost-effective prices and newer technology.
The ability to understand the diverse market and strategies toward specific regions and income groups is one of the essential steps to be taken by the international brands especially in consumer durables space to mark footprints in the fast-changing Indian retail space. Technology has proved its significance immensely in the recent years with the rollout of interactive TV controls and smart TVs. The TV’s overall has become equal to a mirror in the wall. When we say slimmer and bigger we mean it would not occupy so much space but one still gets to enjoy the bigger view of it.
Having said that, most new televisions are flat-panel models; older TV sets, which use cathode ray tubes (CRT) are outdated. There are several types of Flat Panel TVs available in the market such as plasma TV, LED TV, LCD TV, OLED TV, etc. Plasma and LCD are the two most familiar technologies used for flat-panel displays. Variations on those include LED and 3D TV. OLED, an emerging technology, is distinct from plasma and LCD; another separate technology, rear-projection, is less commonly used.
Truvison will soon host its OLED HDR panels in the market. Overall the global FPD market has noticed a decline in the last 2 consecutive years and also, LEDs are still facing tremendous pressure to any lower costs. Even though manufacturers in the LED industry are being pressured to lower prices in the short term, in the long run there will be limited room for further LED price cuts.
This can be explained by the rising number of manufacturers withdrawing from the market in the near future, as LED prices is close to manufacturing costs and reduce companies’ profitability. Due to currency fluctuations, end market demands in different countries have been much lower than expected.
Another major perspective affecting the LED Industry presently would be GST – a game changer of every industry. Some key highlights from consumer durables industry include – uniformity in tax rates which shall ease the pressure faced by this industry. Consumer durables will be placed under the 28 percent tax slab. However, one thing that companies may have to watch out for is whether excise duty exemption zones continue to get that benefit.
To dominate the TV market, the company’s focus is to tap the value conscious Indian consumer embracing the disruptive pricing with no compromise in quality. The underlined always remains Truvison TVs are affordable without compromising on technology and quality. Truvison never compromises on quality which is its key USP. It is the product that does the talking. Also, the company is considered as a value-for-money brand which has bought the touch of international technology to the Indian markets.