Although it expects the market to stay stable in 2023, smart device manufacturer Xiaomi India is relying on the introduction of newer technology in the 4K smart television category to preserve its position.
Sudeep Sahu, Xiaomi India’s deputy head of product, told PTI that the company’s business has increased 14–15 times since it entered the smart television market and that it will continue to dominate the sector with an 18% market share in 2022 as it approaches its five-year mark in India.
“We do not anticipate any growth in the smart TV market in 2023. To maintain our current position as the dominating force in this industry, we aim to continue offering our current selection of products.
At the event, Sahu introduced the Rs 4,999 Xiaomi TV Stick 4K streaming gadget featuring Dolby Vision and Dolby Atmos technologies. Customers can use the device’s built-in Chromecast feature to cast entertainment from their smartphones and tablets onto a bigger screen.
“Since 2018, we have shipped 1 crore TV and streaming devices. Even for streaming devices, we aim to gradually include technologies like Dolby Vision and Dolby Atmos. In 2023, a growing number of our products will allegedly support high-end technologies. It will spread to DTS X, DTS Virtual X, and more ranges in addition to OLED and QLED technologies “Says Sahu
Speaking about the growth factors for the company’s business, he stated that although small-screen televisions are anticipated to dominate the market, more consumers are anticipated to shift to higher screens and switch to 4K technology.
“We still don’t have 8K content in India. Still operating in 4K. Our future success will be a result of HDR10 and Dolby Vision. This year, we’ll maintain our lean and tidy portfolio. We will provide 4K from 43 inches and larger screen sizes. Higher quality audio and video will be highly demanded, “added Sahu.
