Bigger Screens, Better Experience: India’s TV Upgrade Trend 2024

India's TV market is undergoing a major change. We had a chance to chat with Avneet Singh Marwah, CEO of SPPL, to dig deeper into what's happening on the ground.

"People who already own a TV, are now upgrading and this time, they're going bigger. The shift from smaller to larger screens is driven by a few factors: people have more disposable income, the need for a superior viewing experience, and the power-packed lineup of World Championships in various sports events in 2024. Social factors also play a role as folks upgrade their home setups to stay current with tech trends. While entry-level TVs are still growing, the real excitement surrounds the 55, 65 and 75-inch models. That's where we're seeing a significant surge in demand lately," says Avneet.

One interesting point that came up recently was during a conversation I had in Delhi. A family's TV had a sound issue, so I went over to help. Turns out, their 32-inch TV had a busted speaker. I suggested they get a Bluetooth speaker, but then they expressed it was time for a bigger screen size to revamp the whole experience.

Increasing Disposable Income

As the economy opened post pandemic there has been an increased purchasing power. Not just enthusiasts but also the general consumers have opted to invest in home entertainment especially televisions. Since most people already had one or more televisions at their home, they are now purchasing bigger screen sizes for enhanced viewing experience and to add a touch of sophistication to their living spaces. While there has been steady growth in the entry level segment, the mid-tier TVs have high potential with users prioritizing larger TVs as not just a form of entertainment but also a status symbol.

Impact of Cricket T20 World Cup and Major Sports Events

You know how cricket is in India-it's practically a religion. The T20 format? Always a thrill, especially on a big screen surrounded by friends and family. The sport format is so fast-paced, it pulls in huge viewership both on TV and online.

With the Cricket T20 World Cup on the horizon, and with our Indian team looking stronger than ever, The cricket fans are potentially thinking about upgrading their home setups. Not just Cricket T20 World Cup there's EUFA Euro 2024, The Olympics and Wimbledon Championship. It is a power-packed line-up of major sports events this year and the anticipation of these events often leads to consumers investing in larger TVs to enhance their viewing experience.

Who wouldn't want to watch those intense matches in premium resolution on a bigger screen? It's like bringing the stadium vibes right into your living room. No wonder there's been a bump in sales for larger TVs lately and the demand for bigger TV sizes is expected to surge even more.

Key Takeaway from the Conversation

Spending more time indoors during lockdowns and remote work culture has really made us appreciate the screen size and quality. Whether the need of the hour is to attend virtual meetings, gaming, or binge-watching our favorite shows on a TV, a larger screen on any device be it smartphone, laptop or a television significantly impacts the overall viewing experience.

Beyond entertainment, the larger screens, especially of televisions, offer versatility by serving as a central hub for both leisure and productivity, allowing us to multitask by connecting laptops or PCs. This flexibility in today's world where we are adapting to hybrid lifestyles where work and leisure blend seamlessly at home is pivotal.

With technology advancing, consumers now have more affordable options with richer features. Brands like Kodak and Thomson are making QLED lineups and larger screens accessible to Indian consumers without breaking the bank. It's great to see these advancements making top-notch viewing experiences more affordable for everyone.

In the current TV market in India, we're seeing a lot of players leave the market, leading to consolidation. This shift is opening doors for established brands and manufacturers to step up. SPPL, with its strong collaboration with Kodak and Thomson, is positioning itself for future innovation and market expansion. I'm looking forward to seeing how these partnerships are shaping the future of the industry.