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LG launches AI-equipped smart TV in India, aiming for 25% growth in home entertainment sector

LG launches AI-equipped smart TV in India, aiming for 25% growth in home entertainment sector

 


South Korean technology giant LG expects 25-30% growth this year due to the premiumization trend in the Indian TV market, with customers focusing on new technology and larger screen sizes. To meet the growing demand and strengthen its pole position in the Indian market, LG has launched a new AI-powered smart TV. Comprising 55 new models, LG's next-generation AI TVs will be available in sizes ranging from 43 inches to 97 inches.

Aviral Bhansali, head of home entertainment business at LG Electronics India, told Business Today, “According to leading market agencies, we were the leading brand with a market share of 27.1%. Internally, we have a market share of 25-30%. % growth, and to strengthen our position in the market, customer preference for LG increased significantly and we maintained our leadership position in 2023 by delivering cinematic experiences at home. Innovations such as OLED and QLED, webOS platforms, Dolby Vision and Dolby Atmos, along with TV connectivity, are all important in winning consumer acclaim and establishing us as the preferred brand in the television industry. It plays a role.”

With the launch of the new product range, LG has committed to upgrading its TVs with upgradable WebOS for the next five years. “For the first time, customers who buy TVs in 2024 will no longer feel obsolete and will continue to be brand new in 2028 and 2029. This is a big, bold move that LG has made today,” Bhansali said. added.

At the same time, on the connectivity front, LG has integrated Chromecast and Apple AirPlay into its new TVs, allowing customers to cast content from their devices to the screen and enjoy it on a larger scale.

Regarding the AI ​​performance that LG is introducing to improve the overall viewing experience, Bhansali said that LG is applying AI to various aspects of the TV. “We have AI Picture, AI Sound, and AI Customization. With AI Picture, the TV understands content such as news, movies, and sports and enhances it accordingly in terms of picture quality and detail. So TVs can be upscale.'' Similarly, AI for voice helps TVs understand and enhance your voice. ”

LG is targeting increasing demand from tier-1 and tier-2 cities with the launch of new TV models. The company is seeing strong interest in cities like Pune and Lucknow, where customers are looking to upgrade to bigger screens and the latest technology to enhance their home entertainment experience. Additionally, as market penetration increases, LG also expects significant demand from rural areas. To facilitate these upgrades, LG has introduced various financing schemes to make it easier for customers to invest in larger screens and new technology.

On the manufacturing front, Bhansali said 99.5 per cent of LG TVs are produced in India at the company's factories in Pune and Greater Noida, except for larger screen sizes such as 86-inch and 97-inch models.

Sources

1/ https://Google.com/

2/ https://www.businesstoday.in/tech-today/launch/story/lg-launches-ai-powered-smart-tvs-in-india-eyes-25-growth-in-home-entertainment-429705-2024-05-15

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