- Chinese electronics companies OnePlus and Realme have decided to discontinue their smart television businesses in India. This means they will cease sales and production of smart TVs in the Indian market.
- Despite exiting the TV segment, OnePlus and Realme intend to continue their operations in the smartphone market. This suggests that they are prioritizing their smartphone business over their television business.
- The decision to exit the TV business comes at a time when Indian authorities are tightening regulations concerning Chinese companies. This may have played a role in their strategic decision.
- The report mentions that OnePlus and Realme had invested significantly in their TV businesses. However, despite these investments, they have chosen to wind down this segment.
- According to IDC estimates, the smart TV market in India saw the shipment of 4.5 million units in the first half of 2023. The growth was attributed to high e-commerce sales and the introduction of new TV models.