Samsung launches new range of Neo QLED TVs in India, eyes 2x growth in 2023

Expanding the premium television segment in the country, South Korean technology giant Samsung is launching its ultra-premium 2023 Neo QLED TV range in India. The new line-up, which includes Neo QLED 8K and Neo QLED TV, focuses on enhanced connectivity, security with Knox Vault, personalisation, gaming experience, and sustainability. On the back of this new series, Samsung is eyeing 2x growth in 2023.

The Neo QLED 8K TVs will be available in 65-inch, 75-inch, and 85-inch sizes, with a starting price of Rs 3,14,990. The Neo QLED 4K TVs will be available in 50-inch to 85-inch panel sizes starting at Rs 1,41,990. Samsung is also offering free Samsung Soundbar HW-Q990 worth Rs 99,990 with select Neo QLED 8K TVs and Samsung Soundbar HW-Q800 worth Rs 44,990 with Neo QLED 4K TVs until May 25, 2023. 

Mohandeep Singh, Senior Vice President of, Consumer Electronics Business at Samsung, told Business Today, “In the QLED TV segment, which is synonymous with premium TVs, we saw growth of 2X between 2020 and 2022. Riding on the new line-up of Neo QLED 8K and Neo QLED TV, we expect to grow by 2X in 2023. In addition, the QLED 8K TV business grew 2X in 2022, and we expect to grow 3X in 2023.”

For instance, Samsung TVs above 55-inch saw a massive growth of 150 per cent between 2020 and 2022. 65-inch and above TVs grew 230 per cent, while those above 75-inch saw 300 per cent growth. In 2023, Samsung expects 55-inch and above TVs to grow by 2X over the previous year.

Interestingly, Samsung claims the demand for premium smart TVs isn’t just restricted to metros and big cities. Even Tier-2 and other smaller cities are growing twice as fast as big cities for the company.  “The last few years have seen two big trends play out – consumers are picking up larger screens, upsizing and embracing premium TVs like never before. We have also seen a rise in young people buying premium QLED TVs over the last few years.  The average age of the premium TV buyer has steadily come down, from 38 in 2020 to 34 today,” adds Singh.

To further strengthen its market share, Samsung will also double down on its retail strategy. From the current 2,500 stores in the country where the QLED TVs are sold, Samsung is planning to take the number to 5,000 stores this year. 

Samsung also has a wide manufacturing footprint in India, and the majority of its QLED TVs, including the new Neo-QLED TVs are manufactured at the company’s Chennai plant.