TV segment achieves projected growth of 3 years in half the time amid Covid
Avneet Singh Marwah, Director and CEO, Super Plastronics Pvt Ltd, says the smart TV sector observed a 65 per cent growth YoY, and the projected growth for the next three years was met in 12-18 months, mainly due to the pandemic.
- Oct 20, 2021,
- Updated Oct 20, 2021 10:57 PM IST
Other than smartphones and laptops, an industry that witnessed exponential growth has been smart TVs. As TVs became an important part of every individual's daily lives -- from the medium of entertainment to hosting office meetings via zoom or even online classes for children, the TV segment has managed to achieve the projected growth of 3 years in half the time due to the pandemic.
"The smart TV sector observed a 65 per cent growth year-on-year, and the projected growth for the next three years was met in 12-18 months, mainly due to the pandemic. TV figures per capita will only grow because the content is also such a personal choice. With everyone wanting different content, different screens will be required, giving an impetus to TV sales figures," says Avneet Singh Marwah, Director and CEO, Super Plastronics Pvt Ltd, a Kodak Brand Licensee.
As content viewing has become a part of people's daily routine, multipurpose TVs fitted with technologies like AI are expected to do well this festive season. "OTT content on TVs had been the preferred source of entertainment. Even large production houses are releasing their movies on online streaming platforms. This is pulling in more customers towards the Televisions," adds Marwah.
As the second wave caused havoc in every sense for our country, market sentiments also went down. Amidst this scenario, consumers started saving up and spending less on discretionary items as news of the third wave broke out. Adding to the industry woes is the global semiconductor shortage. However, the global semiconductor shortage has impacted production.
Marwah says: "Production has risen, and so has the demand for raw materials -- mainly semiconductors. Raw material prices have gone up. However, supply remains an issue. While we are trying to figure out ways around this, if this continues, it may put a damper for many in these upcoming sales and beyond."
With 35 per cent to 40 per cent of the sales happening in the festive quarter for SPPL, the company has geared up in advance. "We are still not sure about how things will turn out. A sense of caution prevails amongst customers. However, the brand owners in general and we will be offering discounts and offers that should incentivise customers to purchase what they may have deferred in the year gone by."
SPPL is offering zero-interest EMI schemes, cashback on leading banks debit and credit cards, both HDFC and Kotak. For Kodak TVs, SPPL is also having exchange schemes wherein customers.
Other than smartphones and laptops, an industry that witnessed exponential growth has been smart TVs. As TVs became an important part of every individual's daily lives -- from the medium of entertainment to hosting office meetings via zoom or even online classes for children, the TV segment has managed to achieve the projected growth of 3 years in half the time due to the pandemic.
"The smart TV sector observed a 65 per cent growth year-on-year, and the projected growth for the next three years was met in 12-18 months, mainly due to the pandemic. TV figures per capita will only grow because the content is also such a personal choice. With everyone wanting different content, different screens will be required, giving an impetus to TV sales figures," says Avneet Singh Marwah, Director and CEO, Super Plastronics Pvt Ltd, a Kodak Brand Licensee.
As content viewing has become a part of people's daily routine, multipurpose TVs fitted with technologies like AI are expected to do well this festive season. "OTT content on TVs had been the preferred source of entertainment. Even large production houses are releasing their movies on online streaming platforms. This is pulling in more customers towards the Televisions," adds Marwah.
As the second wave caused havoc in every sense for our country, market sentiments also went down. Amidst this scenario, consumers started saving up and spending less on discretionary items as news of the third wave broke out. Adding to the industry woes is the global semiconductor shortage. However, the global semiconductor shortage has impacted production.
Marwah says: "Production has risen, and so has the demand for raw materials -- mainly semiconductors. Raw material prices have gone up. However, supply remains an issue. While we are trying to figure out ways around this, if this continues, it may put a damper for many in these upcoming sales and beyond."
With 35 per cent to 40 per cent of the sales happening in the festive quarter for SPPL, the company has geared up in advance. "We are still not sure about how things will turn out. A sense of caution prevails amongst customers. However, the brand owners in general and we will be offering discounts and offers that should incentivise customers to purchase what they may have deferred in the year gone by."
SPPL is offering zero-interest EMI schemes, cashback on leading banks debit and credit cards, both HDFC and Kotak. For Kodak TVs, SPPL is also having exchange schemes wherein customers.