- The China-based company will launch its first smart TV in its home country
- Xiaomi already retails smart TVs under Mi brand in India, China and many other countries
Redmi has confirmed that it will be launching its first TV in China on 20 August 2019. Starting with a 70-inch variant. The company will later introduce 40 inch Redmi TVs in upcoming months. Interestingly Oneplus is also gearing up to launch its first smart TVs in China and India. It is also to be noted here that Huawei has already entered this market recently.
Rumors suggest that Redmi’s first smart TV will feature a 4K panel along with a thin design. The TV market in China. Xiaomi, the parent company of Mi and Redmi sales smart TVs under Mi brand name in many markets including India and China.
TV market in China and India
India and China are counted among the biggest TV markets in the world. According to a research by Research and Markets, smart TV market in India is expected to grow at a CAGR of 30.2 per cent during 2018-24. Households in India are at a cusp of transition and a shift in preference has been witnessed from conventional TV sets to smart TV sets. Changing lifestyle of middle income population is attributed to rise in income level, increasing awareness, adoption of new technology and increasing internet penetration.
The report read, “Additionally, government initiatives primarily in tier-II and tier-III cities are some of the key factors which are likely to bolster the growth of Indian smart TV market during the forecast period.”
Another report by Techsci Research said that the India television market is projected to surpass $ 13 billion by 2023. Growth in the market is led by rising demand from increasing number of independent households as well as commercial and hospitality sectors.
It is worth mentioning here that India is possibly one of the key markets for Xiaomi. It has a big presence in the smartphone market in the country. As a matter of fact, Xiaomi apart from retailing Mi smart TVs and smartphones, has also forayed into the personal care appliances market here.
The company had last year claimed of selling one million TVs in nine months in India. It will be interesting to see which segment will Xiaomi position Redmi TVs in, as Mi is already present in the affordable smart TV vertical.