Samsung has launched its 2024 portfolio of AI TVs in India.
We caught up with Samsung India's Senior VP, Visual Business, Mohandeep Singh, who shared his insights on the AV market.
Samsung has launched its 2024 portfolio of AI TVs in India. Its range includes new QLED and OLED models, all of which have been infused with AI capabilities underpinned by new chipsets that enable on-device machine learning. Acko Drive caught up with Samsung India's Senior Vice President, Visual Business, Mohandeep Singh, who shared his insights on the market and what the South Korean giant is bringing to the table. Here are the edited excerpts from the interview.
As you may be aware, last year we brought OLED technology to the Indian market for the first time. However, our primary focus was on our Neo QLED technology, as we wanted to gauge the impact of OLED on the market. When we launched our glare-free OLED, which, as the name suggests, reduces reflections from the ambient environment and provides a much-improved viewing experience, it was a first for us.
With the growing trend of OTT consumption, a significant amount of personal information is stored on the televisions we use, potentially exposing consumers to malicious attacks. To address this, our televisions come equipped with Knox security, a feature you may be familiar with from our mobile devices. Knox ensures that your data is protected by encrypting it on the television itself, with the encryption key also stored on the device rather than being sent to a server. Additionally, Knox works in the background to prevent phishing sites and malicious websites from accessing your devices.
Our flagship product, the Neo QLED 8K, is powered by our latest NQ8 AI Gen 3 processor. This processor features a neural processing unit that is twice as fast as the previous generation and has increased the number of neural networks from 64 to 512. This advanced platform enables us to deliver the connected, personalised, and secure experience I mentioned earlier.
While it's not a Large Language Model (LLM), our AI system incorporates basic machine learning capabilities to personalise the user experience based on their preferences. For example, it can understand how you interact with the TV and adjust the output accordingly. As we move towards an era where consumers increasingly demand connected, personalised, and secure experiences, AI is likely the most suitable tool to meet these requirements. The technology will continue to evolve, and we will gain a better understanding of use cases to continuously improve and serve consumers better.
In my opinion, consumers have a heightened awareness of AI and expect it to make their lives easier. This awareness is disproportionate to the efforts various brands have made to popularise AI. Fortunately, this works to our advantage, as consumers are very receptive to the technology. From our perspective, AI is a tool that helps us meet consumer requirements, and the high level of awareness and interest from consumers makes it easier for us to communicate our message.
Either the bespoke appliance can become your IoT hub, or the television can become the IoT hub, with two-way communication and sharing between devices. For example, while you're watching television, if your washing machine has completed its wash cycle, a notification can appear on your TV screen. Similarly, if you have a smart doorbell that provides a video feed of the person at your door, a pop-up can appear on your television when someone rings the bell, allowing you to see who is there without interrupting your viewing experience. Depending on your ecosystem, all devices can be connected in various configurations. These televisions support the most important protocols, such as Matter and Zigbee, enabling them to connect to Samsung products as well as various third-party devices. They also support SmartThings for seamless integration with your smart home setup.
Our target audience is the “Gen MZ” demographic, specifically those in the premium income bracket. One of our key advantages is that we are the only brand with a strong range across both Neo QLED and OLED technologies. As we expand our OLED offerings, we are also innovating and bringing better solutions to consumers. Recent trends show that the super-premium segment, which includes OLED and Neo QLED, has been growing rapidly. With our improved range and solutions in both technologies, we expect to grow even faster in the market and potentially double our business in the super-premium segment by the end of the year.
Based on last year's data, 40% of all sales were OLED, and 40% of sales were made through EMI (equated monthly instalments). In 2022, we still had non-smart 32-inch TVs selling, but in 2023, the non-smart segment has almost entirely disappeared, and even smart 32-inch TVs are experiencing a decline in sales. We expect this trend to continue in 2024, with lower-end models seeing a decrease in sales. However, we anticipate that the Indian market will experience single-digit volume growth in 2024. Backed by this growth, we are aiming to achieve a milestone of ₹10,000 crore in revenue in 2024, a feat no brand has accomplished in India thus far.
Over 90% of our business comes from televisions manufactured in India, with only some super-large sizes, such as 98-inch models, and the most premium technologies being imported due to economic viability and production constraints. We are strongly invested in India, and the decision to manufacture locally is a function of volumes and the ability to produce cost-effectively. Over time, we expect more models to be manufactured in India, with 90% or more of our business coming from domestically produced televisions.
Yes, we have some exciting offers for consumers at launch. With the Neo QLED 8K models, we are bundling a soundbar for units priced up to ₹80,000. This offer is in response to the insight that consumers today are looking to create a full experience rather than just focusing on the screen. While the onboard sound system is already powerful, consumers still want to enhance their overall experience. For the Neo QLED 4K models, we are bundling the new generation of Freestyle, a small, battery-powered projector that you can take with you. Lastly, with the OLED models, we are bundling what we call the Music Frame, which we are also launching tomorrow.
