Samsung has reportedly cut the prices of its 32-inch to 42-inch LED TVs in India by as much as 15 percent as a preemptive measure against rising competition from local companies like Micromax and Chinese competitors like LeEco, Xiaomi and TCL. Samsung’s rivals LG and Sony have reportedly taken a similar step in the country to counter the rising tide of cheaper TV units.
All three manufacturers – Samsung, LG and Sony – currently account for more than 80 percent of the Indian TV market. Samsung obviously has an interest to ensure that this lead doesn’t erode over time and end up with companies offering cheaper models. Samsung and its rivals have already seen their market share being evaporated in China which is one of the largest TV markets in the world.
India is a significant market as well and a local industry source cited in the report suggests that this price cut is going to add to an increase in the price competition as more than 25 brands are currently trying to make their mark in the country’s TV market.
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